Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Unemployment Data Released - Highest Since '92

Recommended Posts

http://uk.biz.yahoo.com/080716/214/i3a25.html

Wednesday July 16, 12:34 PM
Unemployment highest since '92
By Lee Wild
| | |
LONDON (ShareCast) - Unemployment claims rose at their fastest pace since December 1992 in June as the jobless figure jumped to 1.62m in the three months to May.
The number of people claiming jobseekers' allowance climbed by 15,500 last month to 840,100, according the Office for National Statistics (ONS), more than the 11,000 predicted.
That makes it the fifth rise in a row and comes as May's increase of 9,000 was revised up to 14,300.
In the three months to May, some 12,000 more people lost their jobs, sending the total figure up to 1.62m. The unemployment rate stays at 5.2%.
Experts fear things are going to get much worse over the next few months as employers struggle to cover rising fuel costs and weaker economic conditions.
Rising mortgage costs and soaring inflation have caused a huge drop in demand for new houses, prompting Persimmon (LSE: PSN.L - news) to slash 1,100 jobs, while both Bovis Homes and Redrow (LSE: RDW.L - news) are culling 40% of their workforce. Barratt intends to cut 1,200 jobs and Taylor Wimpey (LSE: TW.L - news) around 900.
On the earnings front, today's report revealed a welcome dip in annual average earnings growth to 3.8% in May from 3.9% the previous month.
Figures published yesterday put annual inflation at 3.8%, the highest since records began at the start of 1997. One analyst said 5% or more is possible by the end of the year.

Gordon's miracle economy is well placed to weather the storm blah de blah blah blah.

Its all coming unwravelled exactly as many forecast. Unemployment will be phase 2 of the Big One.

Edited by Realistbear

Share this post


Link to post
Share on other sites

Exactly RB. Gordon has been saying that our low unemployment will allow us to 'weather the storm', but due to him being a history graduate and not an economic one, he doesn't realise that employment/unemployment is a lagging indicator and not an advance one.

So George and his neo-con mates will be known as the men who ruined America. Will TB and GB be known as the men who ruined Britain?? :angry: The country I was once proud of.

Share this post


Link to post
Share on other sites
Guest Mr Parry
Exactly RB. Gordon has been saying that our low unemployment will allow us to 'weather the storm', but due to him being a history graduate and not an economic one, he doesn't realise that employment/unemployment is a lagging indicator and not an advance one.

So George and his neo-con mates will be known as the men who ruined America. Will TB and GB be known as the men who ruined Britain?? :angry: The country I was once proud of.

Go on, PM me your Avatar.

Share this post


Link to post
Share on other sites

[

LONDON (ShareCast) - Unemployment claims rose at their fastest pace since December 1992 in June as the jobless figure jumped to 1.62m in the three months to May.

Key word here is "rate", not absolute numbers. Your headline is misleading, sorry.

Share this post


Link to post
Share on other sites
[

LONDON (ShareCast) - Unemployment claims rose at their fastest pace since December 1992 in June as the jobless figure jumped to 1.62m in the three months to May.

Key word here is "rate", not absolute numbers. Your headline is misleading, sorry.

Might be good to email "Sharecast"--it was their headline: "Unemployment highest since '92"

Be it the rate or the mere fact of joblessness, it ain't looking good for the miracle man's economy that once boasted it was the fastest growing in the world on the back of HPI-BTL and MEW.

Share this post


Link to post
Share on other sites
http://uk.biz.yahoo.com/080716/214/i3a25.html

Gordon's miracle economy is well placed to weather the storm blah de blah blah blah.

Its all coming unwravelled exactly as many forecast. Unemployment will be phase 2 of the Big One.

An almost pursuasive piece on Newsnight last night saying the number of migrant and temporary workers in the system could represent "slack" that will protect the core workforce from redundancy pain, unlike last time. It will still mean though that, net of returning migrants, we will have a rush on benefits claimed and, surely, a sharp rise in unemployment figures plus, in these times of dual/part-time income-funded mortgage repayments, the rise in repossessions we all expect....

Oh dear, oh dear Gordie, perhaps you shouldn't have listened to the employers and investors who urged you to loosen regulation and ignore house price affordability as the new paradigm would cure all...

We will all see.

Share this post


Link to post
Share on other sites

1.62 million unemployed eh? What the actual figure when we add in all those millions of disability claimants? With 2.5 million on that meal ticket, is the true figure for unemployment actually at its highest since the Jarrow march?

Share this post


Link to post
Share on other sites

Don't forget to add to the 1.62 million REGISTERED unemployed, the 2.8 million on sickness/disability benefits - a large proportion of whom could work but there just ain't jobs for them (too thick and/or live in the wrong place ...)

Plus the 80,000+ people in prison (by far the highest percentage per 1,000 inhabitants in Western Europe).

Just watch the employment rate drop as Eastern European workers return home ......

The cost to the treasury of unemployment (hgher payments and lower receipts) is going to be huge.

Share this post


Link to post
Share on other sites
Don't forget to add to the 1.62 million REGISTERED unemployed, the 2.8 million on sickness/disability benefits - a large proportion of whom could work but there just ain't jobs for them (too thick and/or live in the wrong place ...)

Plus the 80,000+ people in prison (by far the highest percentage per 1,000 inhabitants in Western Europe).

Just watch the employment rate drop as Eastern European workers return home ......

The cost to the treasury of unemployment (hgher payments and lower receipts) is going to be huge.

This is the politicians way of buying social stability. Remove benefits from 90% of this figure as they are not truly sick/disabled and you will have rioting in every street in Britain within 3 months. Unemployment is rife in the West for 20yrs but has been suppressed by the working majoirty paying a hidden tax to help the unemployed minority. Freeing up the capitalist markets has not given us the massive growth so vaunted by the right. The amount of people not working now is comparable to the figure under the "failed" socialist policies of the left in the 60s and 70s.

Share this post


Link to post
Share on other sites
http://uk.biz.yahoo.com/080716/214/i3a25.html
Wednesday July 16, 12:34 PM
Unemployment highest since '92
By Lee Wild
| | |
LONDON (ShareCast) - Unemployment claims rose at their fastest pace since December 1992 in June as the jobless figure jumped to 1.62m in the three months to May.
The number of people claiming jobseekers' allowance climbed by 15,500 last month to 840,100, according the Office for National Statistics (ONS), more than the 11,000 predicted.
That makes it the fifth rise in a row and comes as May's increase of 9,000 was revised up to 14,300.
In the three months to May, some 12,000 more people lost their jobs, sending the total figure up to 1.62m. The unemployment rate stays at 5.2%.
Experts fear things are going to get much worse over the next few months as employers struggle to cover rising fuel costs and weaker economic conditions.
Rising mortgage costs and soaring inflation have caused a huge drop in demand for new houses, prompting Persimmon (LSE: PSN.L - news) to slash 1,100 jobs, while both Bovis Homes and Redrow (LSE: RDW.L - news) are culling 40% of their workforce. Barratt intends to cut 1,200 jobs and Taylor Wimpey (LSE: TW.L - news) around 900.
On the earnings front, today's report revealed a welcome dip in annual average earnings growth to 3.8% in May from 3.9% the previous month.
Figures published yesterday put annual inflation at 3.8%, the highest since records began at the start of 1997. One analyst said 5% or more is possible by the end of the year.

Gordon's miracle economy is well placed to weather the storm blah de blah blah blah.

Its all coming unwravelled exactly as many forecast. Unemployment will be phase 2 of the Big One.

Does anyone know how many people are in employment? How many claims does it take to tick the rate up by 0.1%?

Anyone know?

Edited To Say: The job losses up to may were minimal. Now it gets real fun.

Edited by wellandpower

Share this post


Link to post
Share on other sites
Guest KingCharles1st

so in 16 years we got right back where we started from, and sold the silver in the process-

BROWN- YOU WANNKKERR

Share this post


Link to post
Share on other sites
so in 16 years we got right back where we started from, and sold the silver in the process-

I think you mean the gold :lol:

Yep, the UK is heading back for the dark days of the late seventies but the cupboard will be truly bare for the next Tory PM (nothing left to privatise, fast declining North Sea oil reserves, record national debt (with PFI liabilities) and a decimated manufacturing sector (£90bn annual trade deficit)).

Share this post


Link to post
Share on other sites

unemployment data is ********

why don’t they release the number of people working, not hard to find out as they pay tax! also give us the number of people in the country who are over 16. From that you can figure out a TRUE unemployment figure

Share this post


Link to post
Share on other sites

I was under the impression real unemployment (ie those jobs not provided courtesy of HM taxpayer) has been rising for many years. Maybe this indicative of the public sector shedding jobs, in which case it is to be welcomed.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 395 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.