Wednesday, Jul 12, 2006

Unemployment

BBC News: Further rise in UK unemployment

The number of people out of work in the UK has risen again, the Office for National Statistics (ONS) has reported. There were 1.65 million people classed as unemployed in the three months to May, an increase of 90,000 on the previous quarter, the ONS said.

Posted by jason @ 12:51 PM (2909 views)
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6 Comments

1. tyrellcorporation said...

Yeah but, no but; aren't we constantly fed the line that UK fundamentals are sound?!?

Wednesday, July 12, 2006 03:00PM Report Comment
 

2. inbreda said...

yes, but what you don't understand is that in the new paradigm, unemployment is not one of the fundamentals.

The 'neu fundamentals' for the housing market are based around the weight of bricks - which has remained steady for many years due to the lack of change in gravity, the approximate height of houses, and the colour of Krustys hair.

All of these, I think you'll find, point towards a market that is in no danger of falling.

Wednesday, July 12, 2006 05:04PM Report Comment
 

3. The Bald Man said...

I am sure Gordan can create some civil service jobs paid from taxes paid with loans secured against artifical property values.

Wednesday, July 12, 2006 10:05PM Report Comment
 

4. P. O. O. R said...

Am I right in thinking that when someone loses their job, for the the first six months they are given a job seekers allowance, and do not become a statistic until six months later when they get switched to unemployment benefit - If this is the case, we can expect the jobless total to increase significantly over the next six months.
It would also be interesting to know how many people like me are out of work, but do not claim any benefit.

I was made redundant last month, however fortunately I sold my house 3 months ago, and moved into rented. However should I have still owned a property, it would only have been a period of about 4 months until I would have found difficulty with the payements. Whereas with the equity that was released, I know that even if I am out of work for the next couple of years I would be able to manage. I assume then many home owners who find themselves out of work will have difficulties in meeting the payments, which will then result in the number of repossesions increasing etc etc.

Thursday, July 13, 2006 09:39AM Report Comment
 

5. Markd said...

I'm sure you are right P.o.o.r-there is bound to be plenty of massaging of the figures, as there is with the CPI.

It is worth bearing in mind also that many of the headline making redundancy announcements (the NHS, NTL, the car makers etc) recently relate to jobs that are being phased out over the next 6 to 18 months so there is plenty of scope for the figures to keep on rising.

Thursday, July 13, 2006 12:38PM Report Comment
 

6. bidin'matime said...

Sorry, Gordo, but theres no escape if rising unemployment is needed to keep rates down, then eventually, as POOR says, it will have its impact.

They can massage the figures all they like, but if someone cant pay the mortgage, they cant pay the mortgage.

House prices are unsustainably high and will fall one way or another.

Thursday, July 13, 2006 01:30PM Report Comment
 

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