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Unemployment And Benefits

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Although official figures state that unemployment is only about 2.7%, http://www.swale.gov.uk/index.cfm?articleid=1568

it seems that when one uses a slightly different measuring stick, that of “economically inactive” (sponging?) members of the population of working age, it works out to about 21%!

Interesting reading here.

Many countries use economic inactivity at working age to define their unemployment figures.

This may explain why many “developing” countries appear to have such high unemployment rates compared to “developed” countries.

I posted this because I thought it was interesting to look some of these figures up, not because I’m an expert (quite the opposite!). Please correct me if I am wrong in any of this.

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Economically inactive does not meen 'unemployed' as in claiming unemployment benefit.

The economically inactive is a measure of those who are working age but not in paid employment and also inlcudes those who are financially independent (e.g not on benefit and don't need it) ..this inlcudes housewives (who have a partner working), those who are early retired (and may have a private pension), I think it may also include students (over 18years) , people with a disability, men who stay at home to look after kids while wife works, people on career breaks - returned to learning/training etc.

No every single person between 18-65 years is in paid employment or needs to/should be.

When we see the 'confusing figures' by the government and in the media that say emoployment has risen but unemployment has also risen it is because people who previoulsy had paid employment have lost their job (unemployed) but people who were previoulsy economically inactive have returned to work.

The rise in 'employment' includes anything from housewives taking a part time job when kids have gone to school to students doing holiday work. All very good but this doesn't replace fulltime breadwinner jobs that are being lost.

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Done the sums. Including those too "sick" to work, we have 8% unemployment in the UK. Remember, umemployment in the UK has only dropped therabouts, by as much as those in long term sick benefits has gone up. Coincidence I think not. They just got recatagorised. Lies, Damn lies and statistics.

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  • 301 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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