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PalmerEldritch

And The Spending Continues...

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Dunno about you but, I work, earn money, and then spend it. Whats wrong with that. I thought a healthy economy needed money to flow? Employment is up, wages are up, whats the problem exactly? Or is this more HPC doom and gloom based on the belief that if our economy collapses HPC forum goers will be immune!

Dont worry, it may never happen!

Unemployment is down and numbers on benefits continue to fall

eGov monitor, UK - 18 hours ago

Jim Murphy, Minister of State for Employment and Welfare Reform, welcomed today's Labour Market figures - which show that both ILO unemployment and the ...

Earnings growth remains steady

Times Online, UK - 18 hours ago

Private sector wages were up by 3.2 per cent in April from a year ago, compared to a figure of 3.3 per cent in the public sector. ...

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http://news.bbc.co.uk/1/hi/business/6751655.stm

These .25% interest rate rises are having absolutley no effect whatsoever.

Time to raise them properly if the BOE want to contain the inflation monster.

Dont be so harsh!

"But we'd expect consumer spending to slow more in the second half of the year. severly prior to the next MPC meeting"

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Dont worry, it may never happen!

Unemployment is down and numbers on benefits continue to fall

eGov monitor, UK - 18 hours ago

Jim Murphy, Minister of State for Employment and Welfare Reform, welcomed today's Labour Market figures - which show that both ILO unemployment and the ...

Smoke... and mirrors:

http://www.rte.ie/business/2007/0613/uk.html

The level of unemployment in Britain has fallen, but the number of people classed as economically inactive has reached a record high, official figures showed today.

The Office for National Statistics said that the number of people out of work fell by 15,000 in the three months to April to 1.68 million, although the figure was still 58,000 higher than a year ago.

The claimant count, which covers people eligible for jobseeker's allowance, fell by 9,300 in May to 880,400, the tenth time the figure has fallen in the past 11 months.

But the figures were overshadowed by a big increase in the number of people classed as economically inactive, which includes students, those looking after a relative, workers who have taken early retirement or given up looking for a job.

The figure increased by 77,000 in the latest quarter to 7.95 million, the highest figure since comparable records began in 1971.

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Guest grumpy-old-man
Dunno about you but, I work, earn money, and then spend it. Whats wrong with that. I thought a healthy economy needed money to flow? Employment is up, wages are up, whats the problem exactly? Or is this more HPC doom and gloom based on the belief that if our economy collapses HPC forum goers will be immune!

Dont worry, it may never happen!

Unemployment is down and numbers on benefits continue to fall - please addon people claiming Tax Credits & Disablility Allowance ;)

eGov monitor, UK - 18 hours ago

Jim Murphy, Minister of State for Employment and Welfare Reform, welcomed today's Labour Market figures - which show that both ILO unemployment and the ...

Earnings growth remains steady - please bear in mind that REAL inflation is running at between 8-10%. ;)

Times Online, UK - 18 hours ago

Private sector wages were up by 3.2 per cent in April from a year ago, compared to a figure of 3.3 per cent in the public sector. ...

see my replies in bold.

Wake up Orbital & realise that you are being conned by the stats.

edited - In fact thedebtisreal posted this to you only today:

Poor Orbital just doesn't understand.

Edited by grumpy-old-man

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Dont worry, it may never happen!

Unemployment is down and numbers on benefits continue to fall

eGov monitor, UK - 18 hours ago

Jim Murphy, Minister of State for Employment and Welfare Reform, welcomed today's Labour Market figures - which show that both ILO unemployment and the ...

Only if you believe the doublespeak.

How 8,000,000 people "dropped out of labour market"

The number of people classed as "economically inactive" in Britain has risen to just under eight million, the highest level since records began in 1971.

Official figures show the number of economically inactive increased by 77,000 over the past three months to reach 7.95 million.

Critics said the sharp rise raised serious questions about Labour's claims that it has got unemployment under control.

These doubts were fuelled by research which claimed that the true rate of unemployment is about 2.6 million, up to three times higher than the Government's figures.

An academic study of the figures estimates there could be as many as 1.7 million "hidden unemployed" in Britain, on top of the 900,000 people who officially receive Jobseekers' Allowance each week.

In another setback for ministers, the number of young people who are out of work for more than six months shot up to 180,000, only 3,000 less than Labour inherited when it came to power in 1997.

The increase came despite Gordon Brown's claim last month that Labour had "virtually extinguished" long-term youth unemployment. However, it is the relentless increase of the economically inactive which caused the greatest concern yesterday.

This group includes students, people looking after relatives, people who have given up looking for a job and people who have taken early retirement.

Vince Cable, the Liberal Democrat Treasury spokesman, said: "It is becoming increasingly clear that the headline unemployment rate is a work of fiction. There are vast numbers of people who are capable of working but who have simply dropped out of the labour market."

Opposition politicians also seized on research by Sheffield Hallam University which found that the real rate of unemployment is much higher than officially suggested.

Academics, led by Prof Steve Fothergill, said the number of people claiming unemployment benefits - which fell to 880,400 last month - only tells part of the story.

They said another 650,000 would be added if the internationally recognised ILO method is used for measuring unemployment. This figure includes people who are not receiving Jobseekers' Allowance but are still "actively looking for work". The researchers then turned their attention to the 2.7 million people who receive incapacity benefit. The study argued that just over one million of these claimants should actually be in work or looking for a job.

Taking the three elements together, Prof Fothergill's team estimates that the "real" rate of unemployment is about 2.6 million.

Prof Forthergill said: "The large fall in claimant unemployment, coupled with the relative invisibility of unemployment on incapacity benefits or off benefits altogether, has created the misleading impression that the unemployment problem is fading away."

His research was published as the latest unemployment figures showed that the number of people out of work fell to 1.68 million in the three months to April, though this is still almost 60,000 higher than a year ago. The number of people claiming Jobseekers' Allowance dropped to 880,400.

Jim Murphy, the employment minister, said: "Our welfare reforms, combined with a strong economy, are helping more people to come off benefits and look for work - but we are determined to go further and to break for good the cycle of poverty and dependency."

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Guest grumpy-old-man

taken from ollieplimsolls link :) :

"They said another 650,000 would be added if the internationally recognised ILO method is used for measuring unemployment. This figure includes people who are not receiving Jobseekers' Allowance but are still "actively looking for work". The researchers then turned their attention to the 2.7 million people who receive incapacity benefit. :o:o The study argued that just over one million of these claimants should actually be in work or looking for a job."

Edited by grumpy-old-man

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Dunno about you but, I work, earn money, and then spend it. Whats wrong with that. I thought a healthy economy needed money to flow? Employment is up, wages are up, whats the problem exactly? Or is this more HPC doom and gloom based on the belief that if our economy collapses HPC forum goers will be immune!

Dont worry, it may never happen!

Unemployment is down and numbers on benefits continue to fall

eGov monitor, UK - 18 hours ago

Jim Murphy, Minister of State for Employment and Welfare Reform, welcomed today's Labour Market figures - which show that both ILO unemployment and the ...

Earnings growth remains steady

Times Online, UK - 18 hours ago

Private sector wages were up by 3.2 per cent in April from a year ago, compared to a figure of 3.3 per cent in the public sector. ...

Debt at record levels.

Reposessions on the way up.

Over a million fixed rate mortgages to be re-set this year.

UK interest rates to be increased at least one more time this year.

Global economies pricing in increasing inflation and therefore more interest rate rises to look forward to.

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Guest d23
taken from ollieplimsolls link :) :

"They said another 650,000 would be added if the internationally recognised ILO method is used for measuring unemployment. This figure includes people who are not receiving Jobseekers' Allowance but are still "actively looking for work". The researchers then turned their attention to the 2.7 million people who receive incapacity benefit. :o:o The study argued that just over one million of these claimants should actually be in work or looking for a job."

the number of people claiming incapacity benefit hasn't increased much for over a decade; it was well over 2.5 million 10 years ago, so not sure this report paints a much more grim picture of unemployment now than a decade ago

i'm sure the true state of unemplyment is under reported but I also don't think this is a recent development

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