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EAs: "Continuing growth in employment is helping to underpin house price rises nationally." :lol:

But RB, I think you'll find that both employment and unemployment are up. In percentage terms, unemployment is up by more than employment so the headline rate of unemployment is up by 0.1% to 5.2%.

In any case, it's the rising unemployment figures that hit the headlines, so should help to drive down house buying sentiment.

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Guest Charlie The Tramp

BBC News 24

Interviewed a Vauxhall worker.

" When you can pay someone £200 a month by moving what do you expect, you can`t blame Vauxhall"

Went on to report it is not happening in other Western European countries why? :rolleyes:

Reporter says due to Uk employment laws it is easier to hire and fire workers than in the other Western European countries. <_<

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The problem with these statistics it that I don't think they show the number of people unemployed but not claiming benefits. They will also include those in part time employment claiming fraudulently.

Personally, I believe that new jobs being created are low value McJobs, not the type to sustain what is meant to be the world’s fourth largest economy. Of more than 20 friends I have in Sheffield, there are only two, yes, TWO, working for a private company earning a half decent wage. All the rest, including myself, are pubic sector and most are on low salaries.

Edited by MEtallic

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Unemployment is set to get worse next Q:

http://www.onrec.com/content2/news.asp?ID=11748

Rising number of employers expecting to make more redundancies next quarter

17/05/2006 09:56:00

Rising number of employers expecting to make more redundancies next quarter, finds CIPD/KPMG report – public sector worst hit
Growing employer confidence has not been enough to deter more employers planning redundancies in the coming quarter, which in turn could bring a further rise in unemployment when May’s jobs figures are announced, according to Dr John Philpott, Chief Economist at the Chartered Institute of Personnel and Development (CIPD).
Dr Philpott’s comments are based on the findings of the CIPD/KPMG quarterly Labour Market Outlook – a survey of over 1,000 employers examining recruitment, redundancy, pay and other key labour market indicators.

Could the Miracle Economy based on HPI and MEW be unwinding more rapidly than Gordon had hoped?

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Guest Charlie The Tramp

You seem to miss this, and employment not unemployment is the the driver for house prices

The number of people in employment rose by 127,000 over

the quarter.

Yep, my local supermarket has just expanded and taken on 20 exta employees at £12k per year. ;)

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Of more than 20 friends I have in Sheffield, there are only two, yes, TWO, working for a private company earning a half decent wage. All the rest, including myself, are pubic sector and most are on low salaries. [MEtallic]

No wonder the taxpayer's being screwed.

The number of people in employment rose by 127,000 over the quarter. [kingofnowhere]

So an extra quarter million immigrant workers are being employed. How does that help British people buy a house?

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You seem to miss this, and employment not unemployment is the the driver for house prices

The number of people in employment rose by 127,000 over

the quarter.

McJobs may be on the rise but:

http://news.bbc.co.uk/1/hi/business/4989258.stm

Meanwhile, the ONS reported that the number of manufacturing jobs was at its lowest level since records began in 1978, with a decline of 117,000, or 3.7%, to 3.06 million.

As the higher paid jobs dissappear Gordon must create more low paid positions for the 100's of thousands of immigrants he hopes to allow in very soon.

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Of more than 20 friends I have in Sheffield, there are only two, yes, TWO, working for a private company earning a half decent wage. All the rest, including myself, are pubic sector and most are on low salaries.

What's it like working in the pubic sector??

:D

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McJobs may be on the rise but:

http://news.bbc.co.uk/1/hi/business/4989258.stm

Meanwhile, the ONS reported that the number of manufacturing jobs was at its lowest level since records began in 1978, with a decline of 117,000, or 3.7%, to 3.06 million.

As the higher paid jobs dissappear Gordon must create more low paid positions for the 100's of thousands of immigrants he hopes to allow in very soon.

What about the financial services, or are the only well paid jobs in the UK in manufactoring?

Why if all these high paid jobs are being lost and replaced with low paid jobs isn't the average earnings falling?

If average earnings are increasing, and the number of people employed increasing, then there is more money chasing a limited stock housing, which is good for house prices?

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127,000 new jobs and 4.2% increase in average wage.

If these 127,000 new jobs are all minimum wage McJobs how can the average wage have increased?

Yes I know the minimum wage has also increased by about 4.2%.

Depends how they calculate the average I guess, but if it's a simple average (the increase in total wage bill divided by number of people in work) then it doesn't look good for falling house prices.

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What about the financial services, or are the only well paid jobs in the UK in manufactoring?

Why if all these high paid jobs are being lost and replaced with low paid jobs isn't the average earnings falling?

If average earnings are increasing, and the number of people employed increasing, then there is more money chasing a limited stock housing, which is good for house prices?

Sadly, financial services are going to get hit hard as more jobs are sent overseas where the cost of housing is less:

http://www.onrec.com/content2/news.asp?ID=11748

· Employers expecting to make redundancies in the next quarter, broken down by sector:
Private sector services – 22%
Manufacturing and production – 27%
Voluntary sector – 28%
Public services – 34%
All employers – 27%
· The figure of 27% for all employers expecting to make redundancies in the next quarter represents a notable increase – up from 25% in the last quarter and an average of 22% recorded during 2005. The figure of 34% of public sector employers expecting redundancies compares to 26% when the same question was asked this time last year.

The UK must accept that it cannot compete in the modern world and especially with the rising power of the Asian economies where the same work can be done at a fraction of the cost. Gordon's McJobs may keep the economy propped up for awhile longer but prices will eventually have to match the levels of income and the new employment paradigm.

With earnings growth stagnant, or even falling, house prices may eventually reflect the new realities:

http://business.guardian.co.uk/story/0,,1776895,00.html

"Nevertheless, the higher unemployment levels should help to keep a lid on earnings growth."
Edited by Realistbear

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Sadly, financial services are going to get hit hard as more jobs are sent overseas where the cost of housing is less:

http://www.onrec.com/content2/news.asp?ID=11748

· Employers expecting to make redundancies in the next quarter, broken down by sector:
Private sector services – 22%
Manufacturing and production – 27%
Voluntary sector – 28%
Public services – 34%
All employers – 27%
· The figure of 27% for all employers expecting to make redundancies in the next quarter represents a notable increase – up from 25% in the last quarter and an average of 22% recorded during 2005. The figure of 34% of public sector employers expecting redundancies compares to 26% when the same question was asked this time last year.

The UK must accept that it cannot compete in the modern world and especially with the rising power of the Asian economies where the same work can be done at a fraction of the cost. Gordon's McJobs may keep the economy propped up for awhile longer but prices will eventually have to match the levels of income and the new employment paradigm.

From the same report

Overall, employers are more confident about the future – with a 12% positive balance of employers expecting to be employing more staff in one year’s time (34%) over those expecting to be employing fewer (22%); the remaining 43% expect the total number of employees to be about the same in a year’s time.

The only positive we can get from this is that the media will report the increase in unemployment and this may help to turn house buyers sentiment downward.

The fact is employment and wages have risen. A base rate rise or two though may alter the picture and these figures help to justify that it is needed.

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The future of Honda in the UK? The recent announcements from HMC do not appear to include the UK in its global expansion plans. With manufacturing leaving the UK due to economic viability issues could Honda be planning a similar move to all the other manufacturers?

http://www.msnbc.msn.com/id/12829933/

Updated: 7:35 a.m. ET May 17, 2006

TOKYO - Profit-rich Honda Motor Co. announced plans Wednesday to build a
new plant in the United States
—its sixth in North America — part of a sweeping $1.18 billion expansion plan to meet soaring demand for its cars.
Japan’s No. 3 automaker also plans to erect a new assembly factory in
Japan
and an engine plant in
Canada.
The three plants are aimed at meeting an ambitious 34 percent increase in annual sales to 4.5 million vehicles a year by 2010, Honda President and Chief Executive Officer Takeo Fukui said.
In addition to the new plants, the company will double vehicle production at its plant in
Brazil
to 100,000 units by 2008, and double output in
India
to 100,000 by 2007, Fukui said.

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Where the Jobs were created, and guess what not at Mc D's

There were 30.92 million workforce jobs in Change on year from December 2004

December 2005, up 92,000 over the quarter and up

171,000 on a year earlier.

Most sectors showed increases in jobs over the year. The sector showing

the largest annual increase in jobs was Education,

health and public administration, which increased

by 131,000.

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Where the Jobs were created, and guess what not at Mc D's

There were 30.92 million workforce jobs in Change on year from December 2004

December 2005, up 92,000 over the quarter and up

171,000 on a year earlier.

Most sectors showed increases in jobs over the year. The sector showing

the largest annual increase in jobs was Education,

health and public administration, which increased

by 131,000.

Education and Health do not, sadly, pay very high wages. The most valuable services paid the least--what a joke!

The thousands of health workers losing their jobs will be forced to take McJobs whether they like it or not--or emigrate. Its a disgrace that Gordon's Miracle Economy is destroying the NHS.

Its the highes paid service sector that is going to see the 22% drop and we have already seen the first wave of that with NTL shedding 6,000 and the banks off shoring at ever increasing rates.

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Education and Health do not, sadly, pay very high wages. The most valuable services paid the least--what a joke!

The thousands of health workers losing their jobs will be forced to take McJobs whether they like it or not--or emigrate. Its a disgrace that Gordon's Miracle Economy is destroying the NHS.

Its the highes paid service sector that is going to see the 22% drop and we have already seen the first wave of that with NTL shedding 6,000 and the banks off shoring at ever increasing rates.

I didn't say they were high wages, I refuted that the jobs were Mc D "low paid" jobs.

Average NHS earnings 2004 (latest year) £26,400 average UK earnings 2004 £26,100

So the jobs being created are normal jobs, not low paid jobs.

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  • 302 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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