Unemployment rises..

[Tangled up in Blue]

This news is much more important than Thatcher's funeral.

http://www.bbc.co.uk/news/business-22180300

 

[Crabby Shrimper]

looking at that graph, it shows unemployment has been dropping consistently since October 2011. You're right, that is important news!

Out of interest, why did you wait until the slight upturn in unemployment before telling us all?

 

[Benfleet A1]

No mention of the minimum wage increase I see. Of course not, that might be seen as a good thing. And it wasn't hidden like other bad news was.

 

[Tangled up in Blue]

looking at that graph, it shows unemployment has been dropping consistently since October 2011. You're right, that is important news!

Out of interest, why did you wait until the slight upturn in unemployment before telling us all?

Presicely because these worrying figures "reflect a reverse in the trend last year for unemployment to fall."

http://www.guardian.co.uk/business/2013/apr/17/uk-unemployment-rise-pressure-osborne-austerity

 

[Crabby Shrimper]

Presicely because these worrying figures "reflect a reverse in the trend last year for unemployment to fall."

http://www.guardian.co.uk/business/2013/apr/17/uk-unemployment-rise-pressure-osborne-austerity

Much like the BBC graph showed there was in June 2012 you mean? You know, that minor blip that disappeared again after a month.

Would be interesting to know whether you posted similar in 2008. Somehow I doubt it, but I'm willing to have you prove me wrong

 

[Neil_F]

I do wonder if you actually read the links you post, Barna. The Guardian is light on analysis though.

Having had a brief look at the data it seems the wider unemployment increase is not driven by people losing their jobs but by those previously inactive seeking to re-enter the labour market. This is both pensioners who had retired and young people coming out of education or training. Those that have been moved off incapacity are also part of those numbers.

No unemployment rise is good, but much of this is reclassification. I would expect that to continue as more people are moved off incapacity.

The most interesting aspect of the Guardian article was on earnings growth, which now averages 1%. Surely this is vindication of the government's policy to uprate benefits by the same amount, Barna?

I do agree that spending power is being slowly eroded by low earnings growth and high(ish) inflation. I'm not sure what can be done on that front though. Interest rates won't be raised, which would be the standrd response. A lot of the inflationary pressure comes from two factors: the high energy prices and the significant devaluation of sterling, which has pushed up the cost of imports.

Economics is often a question of identifying the least worst option.

 

[OldBlueLady]

Doesn't unemployment often rise in this period as those who have been taken on with Christmas short term contracts become "unemployed" again? I really think it's way off being "more important than Thatcher's funeral".

 

[Tangled up in Blue]

Doesn't unemployment often rise in this period as those who have been taken on with Christmas short term contracts become "unemployed" again? I really think it's way off being "more important than Thatcher's funeral".

Unemployment is up and has passed the 2.5 million barrier.That's much more important than any ceremonial funeral,IMO.

 

[Tangled up in Blue]

I do wonder if you actually read the links you post, Barna.

Always,Neil.

 

[MK Shrimper]

Doesn't unemployment often rise in this period as those who have been taken on with Christmas short term contracts become "unemployed" again? I really think it's way off being "more important than Thatcher's funeral".

I'd imagine those who are wondering how they're going to pay the bills now would think it's a tad more important than an expensive ceremony for a woman that a lot of the country reviled.

 

[Grayson]

Doesn't unemployment often rise in this period as those who have been taken on with Christmas short term contracts become "unemployed" again? I really think it's way off being "more important than Thatcher's funeral".

One woman more important than 2.5 million people?

Nice.

 

[Pubey]

One woman more important than 2.5 million people?

Nice.

It's what she would have wanted.

 

[Another Surrey Shrimper]

I do wonder if you actually read the links you post, Barna. The Guardian is light on analysis though.

Having had a brief look at the data it seems the wider unemployment increase is not driven by people losing their jobs but by those previously inactive seeking to re-enter the labour market. This is both pensioners who had retired and young people coming out of education or training. Those that have been moved off incapacity are also part of those numbers.

No unemployment rise is good, but much of this is reclassification. I would expect that to continue as more people are moved off incapacity.

The most interesting aspect of the Guardian article was on earnings growth, which now averages 1%. Surely this is vindication of the government's policy to uprate benefits by the same amount, Barna?

I do agree that spending power is being slowly eroded by low earnings growth and high(ish) inflation. I'm not sure what can be done on that front though. Interest rates won't be raised, which would be the standrd response. A lot of the inflationary pressure comes from two factors: the high energy prices and the significant devaluation of sterling, which has pushed up the cost of imports.

Economics is often a question of identifying the least worst option.

I'd read that those returning to work were largely made up of parents unable to cope with one wage and those who had retired returning to the job market and the main factor for this is cost of living.

 

[OldBlueLady]

One woman more important than 2.5 million people?

Nice.

You're twisting what I was saying. 2.5 million people haven't all suddenly become unemployed.

 

[Tangled up in Blue]

You're twisting what I was saying. 2.5 million people haven't all suddenly become unemployed.

You're quite right.

As the ONS data revealed:- "900,000 people have been out of work for more than a year".

And that alone, is more significant that yesterday's ceremonial funeral,IMO.

You'll also have noticed,I imagine,that the latest rise in uemployment, makes total unemployment higher now, than in 2010.That is also significant.

 

[Lord Football]

No mention of the minimum wage increase I see. Of course not, that might be seen as a good thing. And it wasn't hidden like other bad news was.

Lies, damn lies and statistics. I'd be more than worried if I were a Government Minister at unemployment rising.

The job market has changed dramatically over the last few years.

There are precious few full time jobs. The local JCP (Job Centre to those of us of a certain age) has jobs on part time basis, minimum wage and in quite specific sectors (care, catering, driving). Little else though. So, what was ONE full time job, is now TWO part time jobs, thus more people are in work but earning less.

All Governments manipulate the figures, and they're not really worth the paper they are printed on.