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Realistbear

I L O Jobless Rate Highest Since Nov 1996

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http://uk.biz.yahoo.com/16092009/325/ilo-j...e-nov-1996.html

Wednesday September 16, 09:35 AM

Reuters

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ILO jobless rate highest since Nov 1996

LONDON (Reuters) - The number of Britons claiming jobless benefit rose by 24,400 in August, broadly as expected, and the rate of unemployment on the wider ILO measure rose to its highest since 1996, official data showed on Wednesday.

The Office for National Statistics said the claimant count rate rose to 5 percent in August, the highest since September 1997. The number of Britons out of work on the ILO measure rose by 210,000 in the three months to July, taking the jobless rate up to 7.9 percent -- the highest since Sept-Nov 1996 and also in line with analysts' forecasts.

Average earnings growth including bonuses eased to 1.7 percent in the three months to July from 2.5 percent in the three months to June.

Repossession frenzy beckons.

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http://news.bbc.co.uk/1/hi/business/8258405.stm

There have been signs the UK economy is beginning to pick up, but jobless data tends to lag behind other measures.

The reason why it lags behind other measures is because the other measures are politically rigged so the people can be deceived.

Once more we have more data supporting the jobless recovery. The economists are going to be proved right.

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http://news.bbc.co.uk/1/hi/business/8258405.stm

The reason why it lags behind other measures is because the other measures are politically rigged so the people can be deceived.

Once more we have more data supporting the jobless recovery. The economists are going to be proved right.

If we are going to see unemployment grow New Labour will have to increase benefits so that people can afford to buy houses with taxpayer's money. The only problem with the theory of a jobless recovery (oxymoronic) is that you need jobs to pay bills and mortgages.

I am backing a recoveryless recovery:

http://uk.biz.yahoo.com/16092009/325/downt...ecd-report.html

September 16, 10:02 AM

Reuters

Downturn may cost 25 million jobs in OECD - report

PARIS (Reuters) - The economic downturn will likely cost as many as 25 million people their jobs by end-2010 as the unemployment rate nears a record 10 percent in the OECD group of countries, according to a report released on Wednesday.

The Organisation for Economic Co-operation and Development said 15 million jobs were lost between end-2007 and July 2009 and 10 million more could go by the end of next year despite signs that the economy is picking up.

"A major risk is that much of this large hike in unemployment becomes structural in nature," the report said.

The OECD-wide unemployment rate has already hit the highest on records going back to World War Two, surging to 8.3 percent by June 2009 from 5.6 percent at the end of 2007, the annual report from the Paris-based OECD said.

The latest aggregate readout, for July, is 8.5 percent.

Spain, Ireland and the United States were worst hit, with unemployment rates rising by 9.7 percentage points, 7.8 percentage points and 4.5 percentage points respectively between the start of 2007 and mid-2009, it said.

"The labour market outlook would be even worse if governments has not pursued expansionary monetary and fiscal policy," said the OECD, estimating that government spending on anti-recession projects will raise total employment next year by about 0.8-1.4 percent more than would otherwise have happened.

This downturn is destroying considerably more jobs than other recessions since the early 1970s, the report says.

Edited by Realistbear

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..........................................

"A major risk is that much of this large hike in unemployment becomes structural in nature," the report said.

.....................

Does that mean that bicycle manufacturing will be a good thing to be into in the future?

p-o-p

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Stop being an old fuddy-duddy, every modern economist knows that an economic recovery isn't signalled by people getting new jobs and pay rises, GDP and consumer spending increasing and all those other lagging indicators, it's signalled by the central bank and the mainstream media telling you we're in an economic recovery just before the bailiffs carry your plasma TV out the door.

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