UK unemployment rises unexpectedly in Jan

mr_fishbulb

stonethrower wrote: »

How come on BBC they are saying unemployment fell by 3000

Maybe Hamish works for them

The_White_Horse

really unexpected. really really unexpected.

i thought we were completely over the credit crunch and global economic crisis because we, er, we changed, er - er, um, well we changed....

actually, nothing whatsoever has changed - except false low interest rates and a load of cash pumped into the economy to paper over massive cracks.

until something fundamental changes - how can we get out of it???

Radiantsoul

Generali wrote: »

The numbers are seasonally adjusted so that shouldn't have any effect on the (un)employment stats, assuming the SA is done properly.

You would hope, although they I am not sure how easy it is to get this right and whether this increase is statistically significant.

Generali

stonethrower wrote: »

How come on BBC they are saying unemployment fell by 3000

Because the number of people claiming unemployment benefits rose by 27,000 but the measurement of the number of unemployed as dictated by a group called the International Labour Organisation (ILO) fell by 3,000.

There are lots of statistics surrounding employment and unemployment. For example the USians for some reason like to measure new benefit claimants and the number of people employed outside of the farming sector. I have no idea why.

Graham_Devon

Really2 wrote: »

They have looked at the 1/4. They will change it later when they catch up.
When the Halifax came out this month they reported on the months before figures for the first hour.

The headline is "unemployment falls slightly".

There is a paragraph in there stating "however, the claimant count rose by 23,500".

http://news.bbc.co.uk/1/hi/business/8519647.stm

Really2

Graham_Devon wrote: »

The headline is "unemployment falls slightly".

There is a paragraph in there stating "however, the claimant count rose by 23,000".

OK it has fallen over 3 months but has risen this month. Like I said they may change it later.

Or is it time to grab my tin foil hat again?

Graham_Devon

Really2 wrote: »

OK it has fallen over 3 months but has risen this month. Like I said they may change it later.

Or is it time to grab my tin foil hat again?

No need.

It's just spin, its normal. Theres just no need to spin the spin

Really2

Graham_Devon wrote: »

No need.

It's just spin, its normal. Theres just no need to spin the spin

Not that you have used the BBC to quote from Graham.....

Is positive spin worse than negative?

Graham_Devon

Really2 wrote: »

Not that you have used the BBC to quote from Graham.....

Is positive spin worse than negative?

Hamish has started a thread of his own on this subject.

Have a read, and see what you think

The title could just be "unemployment falls but claimant count up". Simples. But anyway, like I said, Hamish is onto it for us!

Generali

Really2 wrote: »

OK it has fallen over 3 months but has risen this month. Like I said they may change it later.

Or is it time to grab my tin foil hat again?

Tin foil hats IMO will only be required if deflation takes off in earnest which is looking more and more likely by the day.

If Greece defaults and so bank assets take another step down in value then that will reduce still further the money available to be lent and thus the M4 measure of money supply.