Wednesday, October 12, 2011

Hell, hand-carts, etc

UK unemployment total reaches 17-year high

UK unemployment rose by 114,000 between June and August to 2.57 million, a 17-year high, according to official figures. The Office for National Statistics (ONS) said the unemployment rate also increased to 8.1%. The unemployment total for 16-24 year olds hit a record high of 991,000 in the quarter, a jobless rate of 21.3%.

Posted by phdinbubbles @ 10:12 AM (1998 views)
Please complete the required fields.



21 thoughts on “Hell, hand-carts, etc

  • I think that we really need to get near the 3,000,000 mark before it really starts to effect the economy.

    Reply
    Please complete the required fields.



  • hp

    that 3 million mark is not far away less than a bankers bonus away lol

    Reply
    Please complete the required fields.



  • the sky news article also adds

    “Average earnings increased by 2.8% in the year to August, down by 0.1% percentage points over the previous month, giving an average wage of £463 a week.”

    so let me get this right £24,000 per year is average, so how the f&&k can anyone afford a house with all the associated costs, monthly bills, eating, car, etc in this god forsaken country

    Reply
    Please complete the required fields.



  • Why is the three million mark so important, aren’t the figures severely “massaged” by seasonal adjustments etc. anyway? I always assume the actual total of economically unproductive people of working age and ability will be higher than the official statistic, is this incorrect of me?
    I found this sitehelpful. It seems a large number of unemployed people are missed from the official count. Doesn’t this render the figure of 3 million a bit of a moot point?

    Reply
    Please complete the required fields.



  • HPW – you think high unemployment will start to affect the economy rather than the other way around?

    Reply
    Please complete the required fields.



  • i would have thought 3 million mark is psychological especially to the dumb public

    what was the unemployment level in the 80’s recession?

    Reply
    Please complete the required fields.



  • They gather a deposit from inheritance, the bank of mum and dad or a gift. They then support themselves on credit cards and loans.

    I have seen this many times especial with younger <30 people working in the civil service.

    Reply
    Please complete the required fields.



  • Are these the pent up demand for housing we here so much about? 😀

    Reply
    Please complete the required fields.



  • Mark, the “dumb public” ?

    A bitter distaste for the country and its people is apparent in almost everything you write. Such cynicism, while not justified, might at least be taken seriously if your own comments rose above being merely the idiotic cliché.

    Reply
    Please complete the required fields.



  • At the beginning of 2010 there were a little over 8 million people of working age who were “economically inactive”. I understand that figure has now increased closer to 8.5 million.

    The full time employment rate at that time was 21.22 million. With part time workers at 7.67 million.

    These figures give a more accurate picture than the “umemployment rate” which is very much a political creature.

    The figures also appear to me to be pretty poor, although I don’t know how they compare with other countries.

    Reply
    Please complete the required fields.



  • bell

    do you not see it?

    i see it on a daily basis, I often wonder how so many british people can have such a low level of intelligence, they wander around being sucked in by government propaganda, supermarket offers which are not really cheaper, all want to be wags or jordon, the teachers on “coach trip” last week said it all thick as two really short planks, i really wonder how the human race has got to such a point

    Reply
    Please complete the required fields.



  • general congreve says:

    Although government statistics are not to be trusted, for them to admit the unemployment rate has gone up, means it most certainly has gone up. So whichever way anyone wishes to count the figures, it is definitely not indicative of the growth necessary to grow our way out of the debt load of trouble we currently find ourselves in.

    Reply
    Please complete the required fields.



  • Mark, I don’t disagree that there are elements of our culture which mean we don’t get the best out of our people. However I also think that a large part of that culture is a tendancy to take no responsibility for problems and to blame others instead, which is surely all that decrying other people amounts to.

    Our predicament is everyone’s problem and if it is to change it needs people who not only seeing things as they are, but who are also prepared to do more than pass blame.

    Reply
    Please complete the required fields.



  • bell

    it is difficult to start change, governments rarely listen to the public try emailing them they never reply, the dumb element dont seem to want help, how does one start to help?

    Reply
    Please complete the required fields.



  • obviously governments have a bit of a duty to fudge the figures, since they want to factor in the most optimistic view. Not JUST for themselves but also to keep the masses “happy.. ish” the fact that people can see through them is a bit of a different issue. The more dumbed down the masses are , in that way the better.

    The interesting thing (for me) is the correlation between unemployment and HP. Flash has stated here many times that the tipping point is 2.75m approx. for a crash to occur.

    He assumes that all governments fudge the figures, none more so than others. So assuming thats right, [(and assuming that the figure isnt put together by some dyslexic (else it might be 2.75 rather than 2.57) ] it looks like we are getting close to the tipping point for the master determinant.

    Anyway I found 2 things:

    http://www.pyrosoft.co.uk/blog/2009/04/25/unemployment-versus-house-prices-1975-2008/

    where the comments question the correlation.

    and

    http://www.marketoracle.co.uk/Article20816.html

    Where Nadeem seems more concerned with correlation to claimant counts.

    I hope Flash is looking in since he might have some pearls of wisdom to counter the first link in particular.

    Reply
    Please complete the required fields.



  • mark

    “we need to have good teachers like mine were, there was no way we could have escaped from school”

    Dont you mean:

    “we need to have good teachers like WHAT mine were, there was no way we could have escaped from school”
    Thats what my teaches learnt me 😉

    only kidding….

    Reply
    Please complete the required fields.



  • yeh funnily enough i nearly typed that lol

    off to get my benefits and some freebies now i need a big screen 3d tv too for my council house so my neighbours can watch it from over the road i am nice like that.

    Reply
    Please complete the required fields.



  • This one seems to be doing the rounds today so I thought I’d throw it in here

    10 years ago we had Johnny Cash, Bob Hope, and Steve Jobs,

    Now we have no Cash, no Hope and no Jobs.

    Reply
    Please complete the required fields.



  • @Techieman

    I had similar thoughts about this post and also noticed some other articles from the Telegraph that may relate:

    Will rising unemployment turn the ‘phoney recession’ into a real one?

    Ian Cowie expresses concern that we aren’t generating enough jobs for new workers and unemployment will affect young people disproportionately.

    There’s another fine mess QE has got us into

    In which Jeremy Warner points out that depressing gilt yields by QE lowers the value of pension annuities which may force older workers to defer retiring hence less jobs for the youngsters again.

    The picture being painted here is of a fractured economy consisting of unemployed youngsters who are forced to rent and older workers with houses but rubbish pensions who cannot afford to retire. Not pretty.

    Also, if a greater proportion of the unemployed are young renters then perhaps 2.75m won’t be enough to trigger forced sales because so many of them are renting anyway?

    Reply
    Please complete the required fields.



  • 1. hpwatcher said…
    I think that we really need to get near the 3,000,000 mark before it really starts to effect the economy.

    6. mark said…
    i would have thought 3 million mark is psychological especially to the dumb public

    😉

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>