Jump to content
House Price Crash Forum
Realistbear

Latest B B C News Flash

Recommended Posts

http://news.bbc.co.uk/1/hi/business/4623500.stm

The number of people out of work in the UK has risen, figures from the Office for National Statistics (ONS) show.
The jobless total rose by 111,000 to 1.53 million in the three months to November, pushing the jobless rate up to 5.0% - the highest for two years

The VIs have said high employment has been undergirding high house prices. What might low employment do?

Share this post


Link to post
Share on other sites

http://news.bbc.co.uk/1/hi/business/4623500.stm

The number of people out of work in the UK has risen, figures from the Office for National Statistics (ONS) show.
The jobless total rose by 111,000 to 1.53 million in the three months to November, pushing the jobless rate up to 5.0% - the highest for two years

The VIs have said high employment has been undergirding high house prices. What might low employment do?

Yes, and the BoE can't reduce interest rates due to oil price inflation and a truely indebted nation. Sounds like the perfect recipe for economic disaster to me.

Will the aggessive lowering of IRs at the start of the millenium become one of the greatest economic mistakes in history?

Share this post


Link to post
Share on other sites

http://news.bbc.co.uk/1/hi/business/4623500.stm

The number of people out of work in the UK has risen, figures from the Office for National Statistics (ONS) show.
The jobless total rose by 111,000 to 1.53 million in the three months to November, pushing the jobless rate up to 5.0% - the highest for two years

The VIs have said high employment has been undergirding high house prices. What might low employment do?

And it is two year high as well. That was just a passing reference. Whenever the figure is low, they were bleating about "all time low", now it is no where near Headline, Professional Journalism from BBC

Share this post


Link to post
Share on other sites

I’m surprised the BBC didn't extrapolate the figure to 444,000 yearly and call it a 33% year on year increase.

That is a huge figure however you look at it.

Agree. And it makes a mockery out of the latest RICs propaganda which deserves nothing but contempt. Its sad that a professional body like RICs have stooped to cheap spin:

http://uk.biz.yahoo.com/060118/323/g1ezv.html

Share this post


Link to post
Share on other sites

Once unemployment starts to rise a lot of foreign workers (from US, continental Europe etc.) will leave UK and this will further hit the UK property and rental market. Time to lower the rents and bail out of BTL?

Share this post


Link to post
Share on other sites

I don't even bother with the BBC site anymore for economic updates.

The reports are so contradicting these days, its like reading a Comic.

I seem to remember it wasn't too long ago that unemployment was down.

Whatever next I wonder..

Share this post


Link to post
Share on other sites

The figure that interests me most is 7.94m inactive people. That means if there are 12m under 18s (700,000 births a year) then the remaining 39m UK workers are supporting 1/3 of the total population. No wonder taxes are so high and people have little spare cash.

Share this post


Link to post
Share on other sites

1 in 4 workers are in public service.............now that is the biggest joke of all time and the figure is rising.

Its curtains for Blair, mass immigration and no job is a recipe for Anarchy of the first degree.

No wonder the riot police have been going flat chat in training.

Share this post


Link to post
Share on other sites

I’m surprised the BBC didn't extrapolate the figure to 444,000 yearly and call it a 33% year on year increase.

That is a huge figure however you look at it.

I am surprised that they did not manipulate this and say no rise.

Based on there being an additional 0.01396 (111000/92/24/3600) of a person being unemployed per second, this rounds down to 0.0 persons per second. Therefore no increase.

Since everything else is conspiring to force prices up I am surprised that the unemployment figure has not been massaged to zero; as you can see can be quite easily done by taking a small enough unit of time.

However looking at the figures that is almost one additional person per minute!

I work at a University and up until beginning of last year job was viewed as safe (I have been at my current place of work for more years than I care to mention). Of the support staff of my level of work out of 20 there has been 2 redundancies, yes admittedly statistically it is very small numbers, but the point is it works out to be a 10% reduction.

Share this post


Link to post
Share on other sites

I work at a University and up until beginning of last year job was viewed as safe (I have been at my current place of work for more years than I care to mention). Of the support staff of my level of work out of 20 there has been 2 redundancies, yes admittedly statistically it is very small numbers, but the point is it works out to be a 10% reduction.

I was talking to a friend who is a teacher at Xmas and was shocked when he mentioned that he was concerned about his job security!!

I thought there was a major shortage of teachers - not redundancies being made :(

Share this post


Link to post
Share on other sites

I was talking to a friend who is a teacher at Xmas and was shocked when he mentioned that he was concerned about his job security!!

I thought there was a major shortage of teachers - not redundancies being made :(

I have worked in university and I have seen in too many of these places

that our of say 20 lecturers ( salary above £25-30k/year), may be

2 work! To be honest it was the best paid job for lazy people.

It still is, but things are now changing:

1. harder to appoint or promote one friend or relative ( mistress for instance)

2. harder to 'make career from age 16 in the same university, same department'.

3. the Research Assessment Exercise ( RAE) 2008. Desperation is now obvious as

good academics are now headhunted ( some said ' they are looking for big

hitters') to save their department from redundancy! Or some simply fire people

now in the hope of saving the other staffs in 2008. Indeed if the department

output is too mediocre, everybody risk losing.

With such good news ( more accountability asked from university staff,

more transparent appointments and redundancies, better pay for good staff),

I am going back into it!!!!! I simply couldn't stand lazy bastards who abuse the

system and then look with contempt to disadvantaged people.

No there is no security for staffs who are useless.

Yes there is plenty of opportunity for very good one.

To come back to house prices, some people might have to sell

sooner than they want. I know of an academic who keep asking

'are you looking or know someone who is for a house to buy?"

Hold on. At the latest, after the next general election - Gordon Brown

wants the job- there will be a fantastic house price crash with

no spin to hide it!

Share this post


Link to post
Share on other sites

"Analysts said the news was likely to increase the likelihood of a rate cut in coming months as it followed a fall in inflation and signs of a slowdown in consumer spending."

Do you think they will?

Share this post


Link to post
Share on other sites

Faced with this, are we expected to believe the Daily Express headline, that UK house prices rose £2,000 in one week?

I wonder what they will write tomorrow. :rolleyes:

Share this post


Link to post
Share on other sites

"Analysts said the news was likely to increase the likelihood of a rate cut in coming months as it followed a fall in inflation and signs of a slowdown in consumer spending."

Do you think they will?

Depends on how much they individually want to help a certain Chancellor.

The MPC is of course a body independent of Government.

The Economy appears to depend on what?

Share this post


Link to post
Share on other sites

BBC News: UK unemployment rate rises to 5% The number of people out of work in the UK rose by 111,000 to 1.53 million in the three months to November, official figures have shown. The rise took the unemployment rate up to 5%, the highest rate for two years.

unemployment up 8%

or 7.6%

in three months.

Is staggering.

and how many are long term ill?

Share this post


Link to post
Share on other sites

"Analysts said the news was likely to increase the likelihood of a rate cut in coming months as it followed a fall in inflation and signs of a slowdown in consumer spending."

Do you think they will?

Analysts also said that any future bad news would always finish with a hopeful sentance about falling rates <_<

Edited by sign_of_the_times

Share this post


Link to post
Share on other sites

In the past rising interest rates and unemployment,together, have been triggers for HPC. I suspect that this this it will be slightly different as debt will replace rising interest rates as the first of the two pressures to bring down the house of cards.

Unemployment seems to be being driven by two things, the slow down in the housing market hitting the consumer sending and oil hitting everyone. As energy costs rise companies will try to cut costs first. For cost read jobs! Bye bye the miricle ecomony.

Edited by FTBagain

Share this post


Link to post
Share on other sites

Contrary to the BBC 1 o'clock news I think figures do not represent a blip.......We've just ended a spell of 4 years of spending in 3 years aNd now it's payback time.....The Anglo-Saxon economies have been living on borrowed time with their propensity for debt..........Australia ,the US and Uk are all at risk of recession...............

I can't over-emphasise the poor state of the public finances.......Granted, the national debt might not be excessive by international standards but the annual deficit (XS of govt spending over tax revenues) at 3.5% of GDP is appalling considering where we are in the economic cycle and the huge tax rises over the past 9 years.....................................When we DO enter a recession things are going to get messy......Think Dennis Healy's trip to the IMF in 1976 or Argentina in 2001..................................

Share this post


Link to post
Share on other sites

Is it just me or is the timing of the unemployment figures and the leak about a "plan" to kidnap Blairs youngest a bit too much of coincidence?

Another "good day to bury bad news" perhaps?

Or am I just being an old cynic?

I would put money on the 'conspiracy' to kidnap Leo Blair happening something like this:

Scene: Three fathers for justice campaigners are half cut in a pub somewhere.

Man 1: That Tony Blair is a right ******.

Man 2: I bet he wouldn't like it if he didn't have access to his kid. Maybe we should kidnap him?

Man 3: Yeah, that'd piss him right off.

Share this post


Link to post
Share on other sites

Hold on a second - unemployment rose to November? Isn't early Q4 where we there's massive employment gains to handle the consumer glut in December? May be wrong...just a thought.

Share this post


Link to post
Share on other sites

Is it just me or is the timing of the unemployment figures and the leak about a "plan" to kidnap Blairs youngest a bit too much of coincidence?

Another "good day to bury bad news" perhaps?

Or am I just being an old cynic?

Cynical? - realistic, more like

I'm certain the kidnap 'plan' [a story which they appear to have been sitting on for a while], and yesterday's cobbled together prostitute/brothel and refuse incineration policies are news management to 'kill' the Ruth Kelly story

As for unemployment figures - the dates for the release of these is fixed in advance

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.