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Realistbear

Unemployment Rises By 23K To 2.472 Million

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http://uk.finance.yahoo.com/news/jobless-claims-fall-more-than-expected-in-may-reuters_molt-556ecc160d72.html?x=0

Jobless claims fall more than expected in May
{"s" : "INVP.L","k" : "c10,l10,p20,t10","o" : "","j" : ""} 10:06, Wednesday 16 June 2010
LONDON (Reuters) - The number of people claiming jobless benefit fell more than expected in May to its lowest rate in more than a year, but the wider measure of unemployment continued to climb, data showed Wednesday.
The Office for National Statistics said the number of people claiming jobless benefit fell by 30,900 in May. Analysts had forecast a fall of 20,000. Moreover, April's fall was revised to show a fall of 32,000, significantly bigger than previously reported.
The number of unemployed on the wider ILO measure
rose by 23,000 in the three months to April to 2.472 million
. That took the jobless rate up to 7.9 percent, still below forecasts for a reading of 8.0 percent.

It is hard to see who is doing the hiring given the outlook and upcoming jobs cull which will impact the private sector as part of the knock-on effect.

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Not looked but I assume the FTSE taken this as good news?

The BBC et. al. will spin it as a decrease in joblessness as measured by fewer people showing up at the Job Centres (many have gone back to E Europe or onto the black market as in Spain). At the moment ALL news is good news, even inflation in the housing market.

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http://uk.finance.yahoo.com/news/jobless-claims-fall-more-than-expected-in-may-reuters_molt-556ecc160d72.html?x=0

Jobless claims fall more than expected in May
It is hard to see who is doing the hiring given the outlook and upcoming jobs cull which will impact the private sector as part of the knock-on effect.
It means that higher paid positions are being cut, whilst hiring on very poor rates of pay has picked up slightly. It is the beginning of the next stage. Just a bit early to see it. Remember 1991? Over 25% of architects were unemployed. People like Solicitors have laid off quite a sizeable % of staff. They have hired some back, but caution has kicked in now.
Edited by plummet expert

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Not looked but I assume the FTSE taken this as good news?

Of course This bit is especially good news:

The ONS added that the number of people classed as economically inactive - those out of work and not seeking employment - rose by 29,000 during the three months to April to 8.19 million.

This is the highest level since records began, and represents 21.5% of the working age population.

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The number of Britons classified as inactive rose to 8.19 million, the highest since records began in 1971. The statistics office defines inactive people as those not looking for or unable to work.

Public-sector employment fell by 7,000 to 6.09 million in the first quarter as local government and public corporations such as state-owned banks shed jobs, the statistics office said in a separate report. It was the first decline since the first quarter of 2008, just before Britain entered its worst recession since World War II. Employment in the private sector increased by 12,000.

The last Labour government added 900,000 workers to the state payroll during its 13 years in power, more than a third of them in the past two years to help counter the recession. The government now accounts for one in five jobs in Britain.

http://www.bloomberg.com/apps/news?pid=20601102&sid=a7wEitg14k_A

Looks like Brown added quite a few to cook the books leading up to the election.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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