Unemployment........hidden Figures

Wednesday, 12 August 2009


So the unemployment figures did not quite make the 2.5 million figure just yet.
Still a catastrophic 220K rise

Predictions from the business sectors say top out at 3.5 million.
Not good reading.

Must have been a sigh of relief from No10 now Mandy is back as the mighty 2.5 million was not breeched.

But just look at the figures you dont see and then make your own mind up.

The number of people working in the public sector actually went UP - there were 6.02 million in March, compared to 5.87 million in December. So private sector employment suffered even more than the headline figures suggest.

Also - the number of UK born people in employment fell, year on year, more than the headline - down 625,000 compared to 573,000.

But the rise in youth unemployment appears to have slowed - the number of 18-24 year olds out of work up just 46,000 in the three months to the end of June, to 722,000.

So factor these in and then have a re-think.

Also add a bit of Mervin King in from this morning and well settle down for a long drawn out painful period that is MOST DEFINATELY NOT going to end soon.
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The Raven said...

"But the rise in youth unemployment appears to have slowed - the number of 18-24 year olds out of work up just 46,000 in the three months to the end of June, to 722,000."

Wait until the next quarterly figures. A person is not listed as unemployed until 3 months without being able to get a job. Therefore, not a single one of the people who have just finished school/college/university in the last month or so are included in these figures. The next figures will show the impact of around 300,000 new young people suddenly flooding into the job market.

12 August 2009 at 20:17