Realistbear Posted January 18, 2006 Share Posted January 18, 2006 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? Quote Link to comment Share on other sites More sharing options...
karhu Posted January 18, 2006 Share Posted January 18, 2006 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? Quote Link to comment Share on other sites More sharing options...
CrashCrash Posted January 18, 2006 Share Posted January 18, 2006 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 Quote Link to comment Share on other sites More sharing options...
since the beginning Posted January 18, 2006 Share Posted January 18, 2006 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. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 18, 2006 Author Share Posted January 18, 2006 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 Quote Link to comment Share on other sites More sharing options...
karhu Posted January 18, 2006 Share Posted January 18, 2006 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? Quote Link to comment Share on other sites More sharing options...
Time Will Tell Posted January 18, 2006 Share Posted January 18, 2006 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.. Quote Link to comment Share on other sites More sharing options...
Warwick-Watcher Posted January 18, 2006 Share Posted January 18, 2006 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. Quote Link to comment Share on other sites More sharing options...
laurejon Posted January 18, 2006 Share Posted January 18, 2006 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. Quote Link to comment Share on other sites More sharing options...
andy_wants_a_home Posted January 18, 2006 Share Posted January 18, 2006 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. Quote Link to comment Share on other sites More sharing options...
RentingQuiteNicely Posted January 18, 2006 Share Posted January 18, 2006 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 Quote Link to comment Share on other sites More sharing options...
lovepositivepeople Posted January 18, 2006 Share Posted January 18, 2006 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! Quote Link to comment Share on other sites More sharing options...
Londoner Posted January 18, 2006 Share Posted January 18, 2006 "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? Quote Link to comment Share on other sites More sharing options...
padders Posted January 18, 2006 Share Posted January 18, 2006 Possibly. Not sure it will make a huge difference. If you have no job, paying back your mortgage on 4.25% as opposed to 4.5% is of little help. Quote Link to comment Share on other sites More sharing options...
Flash Posted January 18, 2006 Share Posted January 18, 2006 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. Quote Link to comment Share on other sites More sharing options...
Mushroom Posted January 18, 2006 Share Posted January 18, 2006 "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? Quote Link to comment Share on other sites More sharing options...
apom Posted January 18, 2006 Share Posted January 18, 2006 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? Quote Link to comment Share on other sites More sharing options...
sign_of_the_times Posted January 18, 2006 Share Posted January 18, 2006 (edited) "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 January 18, 2006 by sign_of_the_times Quote Link to comment Share on other sites More sharing options...
FTBagain Posted January 18, 2006 Share Posted January 18, 2006 (edited) 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 January 18, 2006 by FTBagain Quote Link to comment Share on other sites More sharing options...
mustrum_ridcully Posted January 18, 2006 Share Posted January 18, 2006 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? Quote Link to comment Share on other sites More sharing options...
Michael Posted January 18, 2006 Share Posted January 18, 2006 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.................................. Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted January 18, 2006 Share Posted January 18, 2006 If you don't work (due to long term illness/stress/etc), you shouldn't be allowed to vote in my opinion Quote Link to comment Share on other sites More sharing options...
mhifoe Posted January 18, 2006 Share Posted January 18, 2006 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. Quote Link to comment Share on other sites More sharing options...
FreeFall Posted January 18, 2006 Share Posted January 18, 2006 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. Quote Link to comment Share on other sites More sharing options...
jp1 Posted January 18, 2006 Share Posted January 18, 2006 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 Quote Link to comment Share on other sites More sharing options...
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