Jump to content
House Price Crash Forum

Unemployment Numbers (and M4, Borrowing, Public Finances And Earnings)


Recommended Posts

0
HOLA441

Claimant count: 3.6% (expected 3.5%)

Unemployment rate: 6.1%

Jobless Claims change: 77.9k (81k)

Avg earnings inc bonus 3.1% (3.3%)

Avg earnings ex bonus (3.6%)

M4 Money supply MOM 1.7% (0.9%)

M4 YOY 16.6% (16%)

Public sector net borrowing 14.9B (10.5B)

PSNCR 44.2B (18B)

Edited by Noel
Link to comment
Share on other sites

1
HOLA442
2
HOLA443
3
HOLA444
TBH I'm not that clued up on the PSNCR number, but the previous high was 17.33 back in 2007, so this is significant

If I remember correctly reduced taxation receipts can bring big hikes in this (i.e. they were expecting 100bn to be paid, but only 80bn was paid). Schemes were announced in November allowing struggling companies extra help to delay payments (VAT, PAYE and Corp tax), I'd guess part of this is the result of that. This could be one a month anomaly (i.e. if everyone decides to pay one month later, the first month will show a big shortfall then future months would go back to to existing level) but with rising unemployment it would have risen anyway (more benefits to pay less tax receitps to pay them with).

Link to comment
Share on other sites

4
HOLA445
5
HOLA446
6
HOLA447
From the article:

"That does not include the tens of thousands of jobs cut since November."

Oh dear. So all that bad news in Nov / Dec 2008 is still to come.

I think you mean Dec 08/Jan 09. What it also doesn't include is all the temporary Christmas hires who are now flooding back into the stats. There are 10's of thousands at the supermarkets alone.

Link to comment
Share on other sites

7
HOLA448
I think you mean Dec 08/Jan 09. What it also doesn't include is all the temporary Christmas hires who are now flooding back into the stats. There are 10's of thousands at the supermarkets alone.

So if this is November, then by year end, we will pretty much be guaranteed to hit that 2 million mark.

Also, isn't there a delay before you can be included in the claimant count?

That might mean that these figures are not as high as they perhaps ought to be.

On PSNCR, I am not familiar with it, other than a rough idea. However, the actual figure is 3 times what was expected. Surely someone might have factored in the delay in Corp tax payments in their expectations?

Link to comment
Share on other sites

8
HOLA449
I think you mean Dec 08/Jan 09. What it also doesn't include is all the temporary Christmas hires who are now flooding back into the stats. There are 10's of thousands at the supermarkets alone.

Sorry, yes - my mistake. December will include the staff from Woolworths and Zavvi as well, approx another 30,000 on their own.

Link to comment
Share on other sites

9
HOLA4410
On PSNCR, I am not familiar with it, other than a rough idea. However, the actual figure is 3 times what was expected. Surely someone might have factored in the delay in Corp tax payments in their expectations?

From ONS

http://www.statistics.gov.uk/pdfdir/psf0109.pdf

i was wrong, It seems late payment of taxes weren't to blame, our old friend RBS accounts for £20bn of a total of 39bn financial interventions. page 5 of the report

Special factors

The central government and public sector net cash requirements for

December 2008 include cash flows arising from Government’s

financial sector interventions. Those for central government total

approximately £39bn while those for the public sector total £22bn.

The net effect of these financial sector interventions is to increase

public sector net debt by £22bn. They comprise :

• the near £20bn capital recapitalisation of RBS (see net acquisition

of company securities in Table PSF5);

• the refinancing by HM Treasury of a large part of the Financial

Services Compensation Scheme (FSCS) loans from the Bank of

England; and

• the provision of a working capital facility to Bradford & Bingley by

HM Treasury, replacing that provided by the Bank of England.

Link to comment
Share on other sites

10
HOLA4411
11
HOLA4412
From ONS

http://www.statistics.gov.uk/pdfdir/psf0109.pdf

i was wrong, It seems late payment of taxes weren't to blame, our old friend RBS accounts for £20bn of a total of 39bn financial interventions. page 5 of the report

Ah right.

Thanks for looking at that.

so without these extraordinary items it was 19 billion then?

still worse than expected (although rounding may make it nearer than the 1 billion).

And I son't know why Gordy was haranguing the banks for these dodgy loans. Surely he knows that debt is wealth?

Link to comment
Share on other sites

12
HOLA4413
Ah right.

Thanks for looking at that.

so without these extraordinary items it was 19 billion then?

still worse than expected (although rounding may make it nearer than the 1 billion).

And I son't know why Gordy was haranguing the banks for these dodgy loans. Surely he knows that debt is wealth?

They'll be another extraordinary month this month as The HBOS/Lloyds share purchase was in January, plus any other bailouts that may happen in the next week and a half. At some point extraordinary becomes ordinary.

Link to comment
Share on other sites

13
HOLA4414
14
HOLA4415
They'll be another extraordinary month this month as The HBOS/Lloyds share purchase was in January, plus any other bailouts that may happen in the next week and a half. At some point extraordinary becomes ordinary.

Indeed.

Still as Ron used to say, a trillion here, a trillion there. Soon you are talking real money.

Link to comment
Share on other sites

15
HOLA4416
16
HOLA4417
17
HOLA4418
Claimant count: 3.6% (expected 3.5%)

Unemployment rate: 6.1%

Jobless Claims change: 77.9k (81k)

Avg earnings inc bonus 3.1% (3.3%)

Avg earnings ex bonus (3.6%)

M4 Money supply MOM 1.7% (0.9%)

M4 YOY 16.6% (16%)

Public sector net borrowing 14.9B (10.5B)

PSNCR 44.2B (18B)

Bump

Is GDP due Fri ?

Link to comment
Share on other sites

18
HOLA4419
19
HOLA4420

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information