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North London Rent Girl

Anecdotal - Unemployment Starting To Bite

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I spoke to my mum this morning and she told me that my lovely cousin's lovely husband has lost the job (yachting related) and they're going to sell the house they bought 18 months ago and find something smaller. These are great people and I'm really gutted that they should be affected like this. Ditto for a well-qualified and experienced friend of mine who has been out of work for a year (telecoms). Very upsetting. :( I only post this because bulls like to accuse us bears of wishing disaster on people. By willing the ends we are implicitly willing the means but only in the remotest way - it's horrible to see people losing their jobs and I wish it didn't have to happen.

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I spoke to my mum this morning and she told me that my lovely cousin's lovely husband has lost the job (yachting related) and they're going to sell the house they bought 18 months ago and find something smaller. These are great people and I'm really gutted that they should be affected like this. Ditto for a well-qualified and experienced friend of mine who has been out of work for a year (telecoms). Very upsetting. :( I only post this because bulls like to accuse us bears of wishing disaster on people. By willing the ends we are implicitly willing the means but only in the remotest way - it's horrible to see people losing their jobs and I wish it didn't have to happen.

I am with you NLRG, I remember the last time, it was not nice, I just wish we did not have to go through with it, it's almost as predictable as the seasons

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And this is just the tip of the iceberg.

What might be worrying is how the welfare state will cope with higher unemployment levels.

GB is already employing 70% of the working population in some areas, so I think a limit in public sector employment has been reached -ish.

So if unemployment rocketed to 10% where would GB get the money from to pay the housing benefits/unemplyment benefits to those who need it?

He'd either have to:

  1. Stop spending so much on wasteful non-reforms
  2. Spend more efficiently
  3. Raise more income (taxes and stealth taxes)
  4. Borrow more money

Given that GB is in control 1 and 2 don't look likely, so I'd put my money on a combination of 3 and 4.

Option 5 (Not paying so much benefits) would be too much of a vote loser for NL so won't be considered. :o

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http://news.bbc.co.uk/1/hi/business/5047438.stm

The survey also revealed that more companies saw increases in employment rather than job cuts in the past quarter and that employment prospects were positive for the first time in a year.

I see a lot of jobs going in the NHS and other areas .. but this is what a Engineering Employers Federation report is showing? :huh:

-----------------

ONS stats here: http://www.statistics.gov.uk/cci/nugget.asp?id=12

The falling trend in the employment rate may be levelling off while the trend in the unemployment rate continues to increase. The number of people claiming Jobseeker's Allowance benefit has increased. The number of job vacancies has fallen. Growth in average earnings excluding bonuses is unchanged while growth in average earnings including bonuses has increased.

The employment rate for people of working age was 74.7 per cent for the three months ending in March 2006. This is up 0.2 over the quarter but down 0.2 over the year.

The number of people in employment for the three months ending in March 2006 was 28.90 million, the highest figure since comparable records began in 1971. Employment increased by 127,000 over the quarter and by 217,000 over the year. The quarterly increase in employment was mainly due to more women workers.

Total hours worked per week were 924.6 million. This is up 2.6 million over the quarter and up 4.4 million over the year.

The unemployment rate was 5.2 per cent, up 0.1 over the quarter and up 0.5 over the year. The number of unemployed people increased by 44,000 over the quarter and by 177,000 over the year, to reach 1.59 million.

The claimant count was 945,500 in April 2006, up 7,700 on the previous month and up 106,300 on the year.

The inactivity rate for people of working age was 21.2 per cent for the three months ending in March 2006, down 0.3 over the quarter and down 0.2 over the year. The number of economically inactive people of working age fell by 86,000 over the quarter, to reach 7.87 million. The quarterly fall in inactivity was due to more women in both employment and unemployment.

The annual rate of growth in average earnings (the AEI), excluding bonuses, was 3.8 per cent in March 2006, unchanged from the previous month. Including bonuses it was 4.2 per cent, up from 4.1 per cent the previous month.

The average number of job vacancies for the three months to April 2006 was 598,700. This was down 4,100 on the previous quarter and down 32,000 over the year.

The redundancy rate for the three months to March 2006 was 5.8 per 1,000 employees, up from 5.7 from the previous quarter.

Source: Office for National Statistics

Notes: People in employment, unemployed and economically inactive make up the total household population aged 16 and over, measured through the Labour Force Survey on a consistent basis since 1971.

Working age is defined as 16-64 for men and 16-59 for women.

Edited by HouseDog

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You will know when sentiment has changed when the average person on the street feels sorry for someone on the dole as opposed to thinking they are work shy scroungers.

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GB is already employing 70% of the working population in some areas, so I think a limit in public sector employment has been reached -ish.

Now come on that is a canard of the first order, it can not be proven, if you are expecting people to take the bearish viewpoint seriously, please can we stick to facts rather than cheap political conjecture.

I don't particularly like this government either, but I won't resort to making statistics up in order to have a go at them.

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Now come on that is a canard of the first order, it can not be proven, if you are expecting people to take the bearish viewpoint seriously, please can we stick to facts rather than cheap political conjecture.

I don't particularly like this government either, but I won't resort to making statistics up in order to have a go at them.

Perhaps the 70% figure refers to public spending as a proportion of GDP in an area. I saw the following figures quoted:

Public spending is now at 43% of GDP on average, up from 38.9 % in 2001. But this varies hugely between regions.

Examples:

Northern Ireland 71.3

Wales 62.4

North East 61.5

Scotland 54.9 etc.

The lowest being London at 33.4, South East at 33.9.

Peter.

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  • 338 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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