Wednesday, Oct 18, 2006

Economy Broke

Yahoo: Jobless figures worst for six years

Jobless figures looking very bad despite miracle economy

Posted by inbreda @ 01:49 PM (1694 views)
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1. inbreda said...

Sorry - can someone remind me of what NoHPC was saying just yesterday - something along the lines of "there won't be a an HPC because employment is low and interest rates are low"?

Goodness - god forbid that an article might be posted on this site suggesting that interest rates may be on their way up, otherwise his arguments start to look a little shakey.

Wednesday, October 18, 2006 01:59PM Report Comment

2. sovietuk said...

Add in all the other people looking for work that have been fudged out of the figures and you've probably got a rate closer to 10%+

Wednesday, October 18, 2006 02:07PM Report Comment

3. miniftse said...

Inbreda - i'm happy to remind you, and he's right! The highest rate in 6 years and still ONLY 5.5%! Thats low! Go to Germany, France and you'll get low house prices and high unemployment!

Wednesday, October 18, 2006 02:45PM Report Comment

4. Tim said...

reminds me of early 2005, the pub quiz team consisted of
1 recently unemployed IT person
2 people in manufacturing whose factory was being closed and they had to relocate to the north west
1 person in the travel industry whose company was moving HQ and laying off 800.
1 person in a bank whose office in the town was being shut with job losses.
1 builder - who I said too "you're ok", "no, because people like you aren't"

Wednesday, October 18, 2006 03:12PM Report Comment

5. waitingfor hpc said...

Yeah it's a strange concept because in Germany they still MAKE things ... and they have unemployment....
surely these figures would not be fudged .. would they?
So as we loose all these jobs on the telly it amazes me where all the people go .... ? what about the people with savings that do not sign on but can not get a job?
250 gone at TVR ... and more and more and no new business....
I know so many people who have bad backs, stress etc etc .. do not believe they are all running back to work when the handouts and very good.... why would they. One guy has a house he is doing up while on state benefits!!!

Wednesday, October 18, 2006 03:24PM Report Comment

6. C'mon Correction said...

My girlfriend works for a company who gets the long-term unemployed back into work. This is after they've gone thru the Job centre, then after they've gone through Job centre plus, they then aren't picked up in the official figures at all, they slot into many catergories. Many have been unemployed for 10+ years (I mean ten of thousands 10+ years - I kid you not), she tells me stories most people wouldn't believe. Don't get me wrong there are many unfortunates out there, but many (I'm told a huge amount) abuse benefits, they are experts at playing the system. - this is only one example of one company, there are many others.

Only fools think unemployment has been lowered by the government over recent years, educate yourself and you will see the figure is closer to 10% and rising. Stop believing the spin.

Wednesday, October 18, 2006 03:27PM Report Comment

7. paul said...

According to Will Hutton, the number of "economically inactive working age adults" is 3.5x the official unemployment figures.

Wednesday, October 18, 2006 03:35PM Report Comment

8. Ticktock said...

Home ownership in Germany is still generally considered ' Petty Beourgeoisie' behaviour, and therefore is not all that popular.

Although things are changing a little, they generally save more than they spend, and tend to dis-trust foreign 'locusts' offering cheap credit for unnecessary consumption.

They manufacture most of the goods they need, and have survived US economic 'punishment' for non compliance over Iraq.

Germans may remember the negative effects of having large debt during a depression from last time around.

Wednesday, October 18, 2006 03:59PM Report Comment

9. Cheekie Charlie said...

The last time interest rates were 5.5% was April 2001 house prices were half the price of today!

Wednesday, October 18, 2006 04:36PM Report Comment

10. miniftse said...

We MAKE things. For example, I make software for an American company that is used all around the world. My friends make websites. I work with 3 Germans, who can't get work back home. We're recruiting, we have more requests for our time than we can handle, we are growing and have been for as long as i can remember. We're good at what we do, we are getting new business from all around the world.

250 jobs? I feel for the 250 people involved, for sure, but 250 job losses is just flux in the bigger picture. It makes news because it a big brand name, with which lots of people have affection. Don't get hung up on the loss, and changing nature, of manufacture.

Wednesday, October 18, 2006 04:47PM Report Comment

11. the bald man said...

Add to this number all the irrelevant civil service jobs created then you get the real picture of the Blair/Brown economy.

Wednesday, October 18, 2006 04:55PM Report Comment

12. kpjcomp said...


I make software too, and we've found our company does'nt do too bad during a recession, I think it's because company's are more keen on finding ways of making savings, and a lot of times this can be done by implenting a good IT infrastructure, with some good custom software. Not like the software installed in the NHS of course.

But manufacturing, tends not to do so well during a downturn. And when waitingforHpc said we don't make things, I assume he means in the manufacturing department.

Wednesday, October 18, 2006 05:20PM Report Comment

13. waitingfor hpc said...

yeah but miniftse - you work on a computer creating on the web - so how long before that is also done in China / India or E Europe?
Why 'make' that in the UK? This is still service not manufacturing. Infact your jobs could move a lot lot easier. And who are you making for? If they are all in Europe / Globe surely they will move on price?

Wednesday, October 18, 2006 05:21PM Report Comment

14. sovietuk said...

waiting for hpc, these software jobs are already on the move. I am continually canvassed by Indian companies wanting to redo my company website. I also have relations working the city and many of their companies have already outsourced their whole IT departments to India. Alot of the 'added value' knowledge based jobs are moving east quickly and have been doing so for some time. Sorry but with the way things are going at the moment the only thing that will be left here is the sort of the job where you have got to have somebody physically present to do something.

Wednesday, October 18, 2006 05:53PM Report Comment

15. J. B. M. C. said...

"you work on a computer creating on the web - so how long before that is also done in China / India or E Europe?"

True, but having seen the atroicious build quality (from my experience) of software from Indian developers I wouldn't be too concerned in the short/medium term.

I have no doubts about the talent of these guys. It's just a case of 'ship it as quickly as possible' and worry about the bugs later. So the outsourcing scenario has failed to materialise.

I mean, look a call centers. I believe that some service companies are bringing them back on-shore.

Wednesday, October 18, 2006 05:56PM Report Comment

16. the bald man said...

sovietuk... nation of shopkeepers? hope everyone does not buy on the net.

Wednesday, October 18, 2006 08:21PM Report Comment

17. nearly30 said...

Agree with the economic issues related to the 'all too flexible knowledge-based added value' service jobs.

Universities in this country have created skilled IT people - that's good. But other countries have now followed suit too.

In addition, there is a major problem with international intellectual property rights - UK/US laws are strong but other country's are weaker.

There is now a massive black market in 'photocopied' academic books - for example.

Also, the figures don't reflect the shift towards contract working - I maybe unemployed next year when my contract is up for renewal.

So could many other people.

Wednesday, October 18, 2006 08:24PM Report Comment

18. Nohpc said...

The vast majority of the unemployed in Britain do not want to work and are completey unskilled. The minority are skilled people who geuinely want to work. The unemployment figures still seem low but I am sure they are fudged like there is no tomorrow. Surely more than 5% of britain is made up of useless benefit seeking chavs?

Thursday, October 19, 2006 04:24AM Report Comment

19. george monsoon said...

I agree with Nohpc on this one, because of first hand experience dealing with the workshy. This percentage is higher than 5% but will probably remain more or less static.

However the fact is that there is an ever increasing number of skilled workers being made unemployed. These are the real workforce, being made redundant because the country's manufacturing, farming and service industry is on its knees.

This is where the increase in unemployment figures is coming from.
I know this for a fact, but don't press me because I am not at liberty to hand out figures.

Thursday, October 19, 2006 08:26AM Report Comment

20. rich said...

>> I know this for a fact, but don't press me because I am not at liberty to hand out figures.

That sounds just like the justification for the Iraq war. Sounds like a candidate for a Freedom of Information request if ever I heard one.

Thursday, October 19, 2006 05:57PM Report Comment

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