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Latest Unemployment Figures


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Just in at 4.5%; previous month at 4.1%.

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/latest

I am surprised it is still at that to be honest, thought it'd be 5%. Granted the government is chucking money about like there's no tomorrow but I still think we'll see the large hikes in the next two months.

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I think many will be hanging on until after Christmas now. Even companies at the point of failure normally get a stay of execution through the busy season and then fall into administration first week of January. 

Overall good news for the people though so far. It would be crushing to have to have to look for work in the heavily impacted sectors right now. 

Anecdotally of all my friends in professional circles (chartered accountancy) I am the only one that had a pay cut (10% for a few months - now restored and annual increases also applied) so I think it's a tale of two cities.

For those able to keep working and earning it could be the best of times. For those unfortunate to not be able to it might be the worst of times. 

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This isn't Trickle down economics, it's splash back economics.

All those 'low value' jobs will be lost around Jan. Suddenly travel and rental income dries up.  'Professional' job landlords (BTL'ers) now take an income hit combined with their own jobs suffering (new budget year) and HMRC ratcheting up pressure.

Banks take an upstream hit and start to write off, restricting lending...

Rinse and repeat.

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I think many will be hanging on until after Christmas now. Even companies at the point of failure normally get a stay of execution through the busy season and then fall into administration first week of January. 

Doubt it's going to be a busy season on the high street this year. 

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For those able to keep working and earning it could be the best of times. For those unfortunate to not be able to it might be the worst of times. 

Agree completely with this, I managed to get a pay rise this year and move in with my sister and am saving 90% + of my salary which is insane.

I think the hospitality sector will take years to recover, we are already seeing companies like Cineworld mothballed and unfortunately there's no easy fix. 

This figure though doesn't tell the fully story, take a worker who was on 40 hours a week and now on 15 hours, they would still be defined as "employed". It'll be interesting what happens in the next couple of months, I wonder if retail will be saved by Xmas shopping or not.

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 I wonder if retail will be saved by Xmas shopping or not.

Shops I've seen have already stocked Xmas tat alongside Halloween. They're desperate and it won't end well.

I feel for Retail and the end workers.  Simply keeping up the appearance of a good Xmas, ostensibly for the Kids.  You know it's bad when kids start to reduce their expectations because they don't want to be a burden.  It f****ing hurts when a kid says 'I don't need anything this year...just some token stuff is ok'.  Used to make lots of cards and toys for my siblings so they'd have stuff to unwrap.

This will not end well, unless you're part of the elite. 

 

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Shops I've seen have already stocked Xmas tat alongside Halloween. They're desperate and it won't end well.

I feel for Retail and the end workers.  Simply keeping up the appearance of a good Xmas, ostensibly for the Kids.  You know it's bad when kids start to reduce their expectations because they don't want to be a burden.  It f****ing hurts when a kid says 'I don't need anything this year...just some token stuff is ok'.  Used to make lots of cards and toys for my siblings so they'd have stuff to unwrap.

This will not end well, unless you're part of the elite. 

 

An apple and an orange in an old sock just like the good old days. 

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I think many will be hanging on until after Christmas now. Even companies at the point of failure normally get a stay of execution through the busy season and then fall into administration first week of January. 

Overall good news for the people though so far. It would be crushing to have to have to look for work in the heavily impacted sectors right now. 

Anecdotally of all my friends in professional circles (chartered accountancy) I am the only one that had a pay cut (10% for a few months - now restored and annual increases also applied) so I think it's a tale of two cities.

For those able to keep working and earning it could be the best of times. For those unfortunate to not be able to it might be the worst of times. 

Well many are not paying rental.

The eviction amnesty has now become day of execution.

Dont pay any bills and take the cash and wind it up come due day will be the only option for many.

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This isn't Trickle down economics, it's splash back economics.

All those 'low value' jobs will be lost around Jan. Suddenly travel and rental income dries up.  'Professional' job landlords (BTL'ers) now take an income hit combined with their own jobs suffering (new budget year) and HMRC ratcheting up pressure.

Banks take an upstream hit and start to write off, restricting lending...

Rinse and repeat.

Jan will be carnage in retail.

Id have an outside bet on John Lewis going pop

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Just in at 4.5%; previous month at 4.1%.

https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/latest

I am surprised it is still at that to be honest, thought it'd be 5%. Granted the government is chucking money about like there's no tomorrow but I still think we'll see the large hikes in the next two months.

Huge numbers in the Temporary market for gravediggers, for some unexplained reason. This has taken up the slack.

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An apple and an orange in an old sock just like the good old days. 

Didn't do us any harm....... visited a high street for one particular shop, not been there for many months last year sometime, very clear to see changes, very quiet, not many cars in the carpark, clear to see lots of shops have closed down, hairdressers no customers, even the very large that once was a pound shop was closed, quite depressing really......plenty of Halloween and Christmas decorations for sale, few shoppers shopping......no queuing to pay for anything.....no need to space.;)

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Didn't do us any harm....... visited a high street for one particular shop, not been there for many months last year sometime, very clear to see changes, very quiet, not many cars in the carpark, clear to see lots of shops have closed down, hairdressers no customers, even the very large that once was a pound shop was closed, quite depressing really......plenty of Halloween and Christmas decorations for sale, few shoppers shopping......no queuing to pay for anything.....no need to space.;)

You may be as old as me

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Can't believe it is only 4.5%, feels like it should be 10-15%

Yeah, I've been applying for a job move, semi sideways into a more interesting area. Seem to be a lot of applicants, often disproportionately strong ones, floating around. Can't get what I want. Seems like employment is imploding.

Edited by Si1
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UK unemployment was always really 10% to 15% since the 2008 Recession (judging from my point of view and addiction to overseas labour + automation), it was a similar story in most Anglo nations, but it is now shooting up to 30% to 40% with the Covid catastrophe...

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UK unemployment was always really 10% to 15% since the 2008 Recession (judging from my point of view and addiction to overseas labour + automation), it was a similar story in most Anglo nations, but it is now shooting up to 30% to 40% with the Covid catastrophe...

This is an interesting comment.

The way the statistics are calculated doesn't show the full picture. Even people on zero hours contracts are still 'employed' when in reality they may not be earning anything for weeks.

Even so I would expect unemployment to hit 10%+ in the new year. There's a few more big names to go insolvent before things start to get better.

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Even so I would expect unemployment to hit 10%+ in the new year. There's a few more big names to go insolvent before things start to get better.

Agree, to be honest I thought we'd be at high single figures at this point in time but I guess the funny money is holding back the tide.

Plenty of hidden unemployment and cuts to hours worked too I am sure. Just catching up on the news and seems a lot of hospitality businesses are just about ready to throw in the towel on their livelihoods given the constant change in restrictions and no stop in the farce ahead.

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  • 433 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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