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UK Unemployment rises to highest since Nov 1996

09:30 16Sep09 - UK ILO jobless rate rises to highest since Nov 1996

LONDON, Sept 16 - The number of Britons claiming jobless benefit rose by 24,400 in August, broadly as expected, and the rate of unemployment on the wider ILO measure rose to its highest since 1996, official data showed on Wednesday.

The Office for National Statistics said the claimant count rate rose to 5 percent in August, the highest since September 1997. The number of Britons out of work on the ILO measure rose by 210,000 in the three months to July, taking the jobless rate up to 7.9 percent -- the highest since Sept-Nov 1996 and also in line with analysts' forecasts.

Average earnings growth including bonuses eased to 1.7 percent in the three months to July from 2.5 percent in the three months to June.



********************************************************

KEY UK LABOUR MARKET STATISTICS

AUG JULY FCAST
Claimant count (monthly change) +24,400 +25,200 +25,000

ILO jobless rate (3mth, PCT) JULY
7.9 7.9

JULY JUNE FCAST
Average earnings 3mth yy (pct) 1.7 2.5 2.0

KEY POINTS
- Average earnings growth ex-bonuses lowest since records began in 2001
- Highest rate of claimant count unemployment since Sept 1997
- Highest level of claimant count unemployment since May 1997
- Highest ILO unemployment level since Mar-May 1995
- Highest ILO jobless rate since Sept-Nov 1996
- Employment level lowest since 3-mths to Jan 2006
- Employment rate lowest since 3-mths to Feb 1997
Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
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Replies

  • 09:30 16Sep09 UK AUG ADJ JOBLESS CLAIMANTS +24,400 AT 5.0% OF WORKFORCE
    09:30 16Sep09 UK AUG CLAIMANT COUNT RATE HIGHEST SINCE AUG 1997
    09:30 16Sep09 UK AUG ADJ JOBLESS CLAIMANTS WAS FORECAST AT +20,450
    09:30 16Sep09 UK AUG ADJ CLAIMANT RATE WAS FORECAST AT 4.9%
    09:30 16Sep09 UK ILO 3 MOS TO JUL UNEMPLOYMENT +210,000, 7.9% RATE
    09:30 16Sep09 UK ILO 3 MOS TO JUL JOBLESS TOTAL 2.47M, HIGHEST SINCE 1995
    09:30 16Sep09 UK 3 MOS TO JUL AVERAGE EARNINGS +1.7%
    09:30 16Sep09 UK 3 MOS TO JUL AVG EARNINGS WAS FORECAST AT +2.0%
    09:30 16Sep09 UK 3 MOS TO JUN AVG EARNINGS UNCHANGED AT +2.5%
    09:30 16Sep09 UK 3 MOS TO JUL AVG EARNINGS EXCL BONUS +2.2%
    09:30 16Sep09 UK 3 MOS TO JUL AVG EARNINGS EXCL BONUS LOWEST ON RECORD
    09:34 16Sep09 UK Jobless Hits Highest Level For 14 Yrs In July




    LONDON--U.K. unemployment jumped to its highest level for 14
    years in the three months to July, while the number claiming benefits topped
    expectations, reducing hopes a speedy economic recovery, official data showed Wednesday.

    The Office for National Statistics reported that, according to the broader
    International Labor Organization measure, U.K. unemployment rose by 210,000 to 2.47 million in the three months to July, its highest level since May 1995. That pushed the unemployment rate to 7.9%, up 0.7 percentage point from the previous three months and level with the 7.9% forecast of economists surveyed by Dow Jones Newswires.

    The ONS also reported that the number of people claiming benefits rose by
    24,400 in Augustt, compared with July's upwardly revised gain of 25,200, also
    topping expectations of a 20,450 increase. The corresponding claimant count rate was 5.0%, the highest since August 1997.

    The claimant count for July was originally reported as 24,900.

    Fast-falling earnings data indicated that a growing number of workers are
    taking pay cuts, accepting pay freezes or going part-time to hold onto their
    jobs, which economists said would constrain consumer spending and could hamper an economic recovery.

    Average earnings excluding bonuses were up 2.2% on an annual basis in the
    three months to July, the lowest level since records began in 2001. Including
    bonuses, average earnings were up 1.7% from a year earlier in the three months to July, a decrease from June's 2.5% rise and below expectations of a 2.0% increase.
    Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
    (MSE Andrea says ok!)
  • lemonjellylemonjelly Forumite
    8K Posts
    1,000 Posts Combo Breaker Mortgage-free Glee!
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    So more figures being revised upwards (anyone else seeing a trend here?)

    Not really a suprise to be honest. Actually, could have been much worse with the levels of education leavers coming out of school/college/university to join the dole queue. Does have the potential to get worse though, with more companies this week announcing they're "looking for efficiency savings".
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • Cannot believe it public sector employment rose in this period
  • lemonjellylemonjelly Forumite
    8K Posts
    1,000 Posts Combo Breaker Mortgage-free Glee!
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    Cannot believe it public sector employment rose in this period

    Erm, yeah. After all, someone has to sort out the jobseekers allowance claims for all those redundant bankers:rolleyes:
    It's getting harder & harder to keep the government in the manner to which they have become accustomed.
  • Graham_DevonGraham_Devon Forumite
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    Part of the Furniture 10,000 Posts Combo Breaker
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    Cannot believe it public sector employment rose in this period

    Jobs are being created by the government. I think 75,000 were created, with another 50,000 in the pipeline.

    Figures may be wrong there though, just what comes to my head. Not all in the public sector, but quite a few will be.
  • Jobs are being created by the government. I think 75,000 were created, with another 50,000 in the pipeline.

    Figures may be wrong there though, just what comes to my head. Not all in the public sector, but quite a few will be.

    What are these jobs you believe this stage hungry, interfering government magically creates?
  • dopester wrote: »
    What are these jobs you believe this stage hungry, interfering government magically creates?

    An extra 85,000 jobs and training places for young unemployed people have been promised by the Government.

    More than 150 major employers, including Royal Mail, Microsoft, Pfizer, Phones4U, Centrica and Morrisons, will provide apprenticeships, work or training.

    http://www.telegraph.co.uk/news/newstopics/politics/6126192/Thousands-of-new-jobs-created-for-young-unemployed.html
    Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
    (MSE Andrea says ok!)
  • purchpurch Forumite
    9.9K Posts
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    More than 150 major employers, including Royal Mail, Microsoft, Pfizer, Phones4U, Centrica and Morrisons, will provide apprenticeships, work or training

    Microsoft part of the Public Sector :eek:
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • purchpurch Forumite
    9.9K Posts
    ✭✭✭✭
    Figures may be wrong there though

    Who'da thunk !!!!!!!! :eek:
    'In nature, there are neither rewards nor punishments - there are Consequences.'
This discussion has been closed.
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