Unemployment Rate falls to 7.8% from 8%.

Really2

doire wrote: »

Not if you're aged 16-24

The number of unemployed 16-24 year olds fell by 11,000,

Well not great if you are one of the 11,000 who did not find work, but glad to see it is falling not rising.

tomterm8

Really2 wrote: »

Thats a bit late, Most of the cuts have been implemented for the start of new financial year. So notice were served 3 months before the 6th April. I would expect the vast majority of public sector cuts to hit in April IMHO.

I don't really see this months figures as significant, because there is a census boost, and because the longer term trend is more or less flat at the moment.

In terms of the public sector...

As a rule, a large number of the job cuts will be notional... that is, rather than making people redundant, they will use natural wastage to lower the work force. This is because it is cheaper.

In addition, many contracts which are shorter term, it is cheaper to wait the contract out than fire people.

And, of course, many Universities and Schools will make people redundant from August, and many other organizations also have different budget years to the standard.

All that means is that there are probably going to be few redundancies in the short term, but the state will not be hiring. Which means any effect is likely to be more drip-drip-drip than a sudden upturn in the statistics.

GeneHunt_2

The budget deficit's not shrinking and unemployment is going down!!!!

Are the coalition actually doing anything about the deficit or just pretending?

ninky_2

doire wrote: »

Not if you're aged 16-24

too true. we seem to have an aging workforce. i wonder how much of the increased employment numbers is actually due to people having to defer retirement?

http://www.guardian.co.uk/money/2011/apr/13/retirees-stay-work-affordability


Two-fifths of people who intended to retire this year will have to work for an extra six years because they cannot afford to stop working, according to a study by Prudential.

The pension provider's Class of 2011 report found that 38% of people are delaying their retirement, and 40% of those say they will have to work until they are 70 to have a comfortable income.

Generali

GeneHunt wrote: »

The budget deficit's not shrinking and unemployment is going down!!!!

Are the coalition actually doing anything about the deficit or just pretending?

It depends on what you measure. Departmental spending is falling but Government spending is going up after you adjust for inflation.

The disconnect between the 2 things is due to the cost of servicing UK public debt rising as the level of debt rises.

IIRC, Government spending as a whole is set to rise by 0.9% pa in real terms (ie after adjusting for inflation) over the course of this Parliament.

Of course the mathematics of the situation is very simple: the later the deficit falls, the greater the proportion of Government spending will go on interest. By running a series of deficits, Governments since the 1960s have put this generation of taxpayers in a poor fiscal position. Labour and Tory seem to be arguing over whether to put the next generation into a much worse or merely a worse one.