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U K Jobless Claims Fall Much Less Than Expected

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http://uk.finance.yahoo.com/news/uk-jobless-claims-down-less-than-expected-but-employment-leaps-reuters_molt-3b6d5890848d.html?x=0

UK jobless claims down less than expected but employment leaps
9:53, Wednesday 11 August 2010
LONDON (
Reuters
) - The number of Britons claiming jobless benefit fell less than expected last month, but the number of people in work recorded its biggest rise since 1989 in the three months to June, official data showed on Wednesday.
The Office for National Statistics said the number of people claiming jobless benefit fell by 3,800 in July, after a downwardly revised drop of 15,900 in June and
well below analysts' forecasts
for a decline of 16,500..../
The figures suggest the labour market is continuing to recover steadily, although the pace of improvement is unlikely to be maintained once government spending cuts, which are expected to result in
more than half a million public sector job cuts, kick in.

These surprises keep on coming don't they?

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Jobless claims down less than expected but employment leaps

reuters

9:58, Wednesday 11 August 2010

LONDON (Reuters) - The number of Britons claiming jobless benefit fell less than expected last month, but the number of people in work recorded its biggest rise since 1989 in the three months to June, official data showed on Wednesday.

The Office for National Statistics said the number of people claiming jobless benefit fell by 3,800 in July, after a downwardly revised drop of 15,900 in June and well below analysts' forecasts for a decline of 16,500.

However, the number of people without a job on the wider ILO measure fell by 49,000 in the three months to June, its biggest fall in three years and taking the total to 2.457 million. That took the jobless rate to 7.8 percent in line with forecasts.

And the number of people in work rose by 184,000 in the three months to June, the biggest rise since 1989. The ONS said that was mainly due to a 115,000 rise in part-time workers. The number of people in full-time work rose by 68,000.

The figures suggest the labour market is continuing to recover steadily, although the pace of improvement is unlikely to be maintained once government spending cuts, which are expected to result in more than half a million public sector job cuts, kick in.

Average weekly earnings growth slowed less than expected in the three months to June to 1.3 percent from 2.7 percent in the three months to May, the lowest rate since January.

The employment and activity figures in Wednesday's data were calculated to reflect the rise in the state pension age for women to 65 from 60 years over the next ten years.

The ONS said the change had resulted in a reduction in the employment rate of around 2 percentage points over the series.

Here is the Full Release. It is all the people that could not claim benefits because too much savings, so did not sign on getting work. Increase in employmeny 188K

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Wonder how many are like me, gone freelance with my first job commiting to 20 hours a week at just over dole money plus any sales commission, which will be thin on the ground for a good while.

The less than minimum wage recovery.

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This should be obvious to everyone, it takes time to dig through the red tape that is 'Benefits'. If you are unaccustomed to it, and without friends already in the system it is a long road.

Tax credits throw all sorts of spanners into the works too, wife lost her job yet I do a 35hr week so I am entitled to claim £48 a week. Yet this same money is negated if I take overtime, If I work harder say an extra shift a week my salary drops to 2.37 from lost benefits. The system not only tells me not to work harder, but then wants my wife take full time work only. The whole thing is bizarre.

Edited by pathfinder

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  • 140 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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