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Yorkshire Lad

Jobless Numbers Rise By 281,000 In 3 Months

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Biggest monthly rise on record.

Recovery continues then.

Numbers on JSA rose 23,800 to 1.56 million in June

Source: Sky News

Edited by Yorkshire Lad

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Biggest monthly rise on record.

Recovery continues then.

Numbers on JSA rose 23,800 to 1.56 million in June

Source: Sky News

"Recovery continues then."

Agreed. Claimaint count rate was 4.8%, same as last months unrevised number (subsequently revised down to 4.7%). Claims change lower than expected. Earnings inc bonus higher than expected. Only Unemployment rate at 7.6% was worse (expected 7.4%)

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http://news.bbc.co.uk/1/hi/business/8151017.stm

UK unemployment rose by a record 281,000 to 2.38 million, in the three months to May, the Office for National Statistics said.The jobless rate increased to 7.6%, the highest in more than 10 years.

Meanwhile the number of people claiming unemployment benefit increased by 23,800 in June, which was less than analysts had forecast.

Businesses have been cutting jobs as they seek to reduce costs in the wake of the global downturn.

Edited by Timm

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Unemployment and rising house prices together do not go.

It was always the monster lagging indicator that was going to give fresh, if not violent, impetus to the second leg of the housing crash.

30% down by Christmas compared with a year ago.

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1 in 10 youths in some areas are unemployed. They did say on the radio this morning but I'm afraid it was raining so heavily I couldn't hear.

(Monsoon season anyone?)

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The credit crunch HPC is over, welcome to the unemployment HPC. I expect this to follow the bust profile of the 89-93 crash from now on, a maximum of 30% real-term falls to come over 4 years so maybe only 20% of nominal drops left to go.

The difference this time round is that there wont be a 1997+ recovery due to excess government debt.

VMR.

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Jobless Numbers Rise By 281,000 In 3 Months

Seriously this is a big number, to put it in comparison the active armed forces of the UK is 208,000.

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1 in 10 youths in some areas are unemployed. They did say on the radio this morning but I'm afraid it was raining so heavily I couldn't hear.

(Monsoon season anyone?)

Unemployment among under 25s is pushing 20% now I heard a couple of weeks ago.

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Oh dear, looks like a winter of discontent coming up. When we reach September, it's getting cold and dark and lots of people are out out of work, property is not going to look very appealing :lol:

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"Recovery continues then."

Agreed. Claimaint count rate was 4.8%, same as last months unrevised number (subsequently revised down to 4.7%). Claims change lower than expected. Earnings inc bonus higher than expected. Only Unemployment rate at 7.6% was worse (expected 7.4%)

are you a green shoots believer then noel?

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280k unemployed yet only 25k extra claiming JSA???

Is that the redundancy buffer?

It's a big gap, though some is explained by the fact that the unemployment figure is for the quarter, whereas the claimant rate is for the month.

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I believe the person who used to update the numbers was made redundant. ;)

Updating unemployment figures has now been outsourced to India, with a lag of about 3 months. :P

:lol:

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Unemployment among under 25s is pushing 20% now I heard a couple of weeks ago.

:blink: Lordy, isn't that depression territory?

Edited by Lander

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Unemployment and rising house prices together do not go.

It was always the monster lagging indicator that was going to give fresh, if not violent, impetus to the second leg of the housing crash.

30% down by Christmas compared with a year ago.

30% down by Xmas - come on, that's madness.

We're relatively static through this year to date, you're predicting 20-30% falls in 6 months ?

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"Recovery continues then."

Agreed. Claimaint count rate was 4.8%, same as last months unrevised number (subsequently revised down to 4.7%). Claims change lower than expected. Earnings inc bonus higher than expected. Only Unemployment rate at 7.6% was worse (expected 7.4%)

So you are saying that things are improving, apart from unemployment and claimant count?

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Unemployment among under 25s is pushing 20% now I heard a couple of weeks ago.

I would be surprised if it wasn’t really 50%.

I know many unemployed under 25 who do not claim benefits etc and hence I presume are not counted as unemployed. However that is what they are, people looking for work but cannot find any.

Plus there are those that are heavily under employed. ie people with law degrees working in cafes while they try and get a legal job.

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30% down by Xmas - come on, that's madness.

We're relatively static through this year to date, you're predicting 20-30% falls in 6 months ?

Quite feasible taking in to account that official figures show a 15% drop from last November to this June

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So you are saying that things are improving, apart from unemployment and claimant count?

"claimant count"

Second derivative.

I'm not saying they are improving, but they are not as bad as expected.

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