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Unemployment falls, Employment rises, wages up
HAMISH_MCTAVISH
Posts: 28,592 Forumite
Unemployment falls to 2.45 million
Employment rises again
Average pay increase rises to 2.1%
Employment rises again
Average pay increase rises to 2.1%
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
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Comments
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HAMISH_MCTAVISH wrote: »Unemployment falls to 2.45 million
Employment rises again
Average pay increase rises to 2.1%
2.1% pay inflation with 4%+ general inflation suggests shrinking disposable incomes.0 -
HAMISH_MCTAVISH wrote: »Unemployment falls to 2.45 million
Employment rises again
Average pay increase rises to 2.1%
Unfortunately that's very misleading. The drop in ILO unemployment reflected a 42,000 decline in joblessness among people aged 16 to 24 as they left the labour force to join full-time education.
Claimant unemployment actually rose 22,500 - the highest level since March 2010.
So, the economy is not generating enough jobs in the private sector to offset the government cuts, and wage inflation is significantly less than RPI so we have erosion of real income.Reformed Saver!0 -
2.1% pay inflation with 4%+ general inflation suggests shrinking disposable incomes.
That's what is suggests.
What is actually happening is that private sector employees are now getting a decent pay increases following two years of freezes or reduced hours to save jobs. Public sector workers are just coming round to the idea that in fact they're not immune from the same fate.
Some people get 4.2% and some people get nowt. The average is therefore 2.1%.0 -
2.1% pay inflation with 4%+ general inflation suggests shrinking disposable incomes.
Totally depends on an individual's personal inflation rate.
My disposable income is increasing rapidly. Your's probably isn't, given the costs of bananas these days.
But in general terms.....
Anyone that spends less than 50% of their income on consumer goods is better off, based on average inflation versus average pay rises.
The disposable income of most pensioners or unemployed people is shrinking.
Most people with a mortgage are still far better off then they were in 2007, regardless of slight increases in the cost of food or fuel since, whether or not they've had pay raises.
Most renters are much worse off then they were in 2007, as rents and the costs of everything else have risen more than average wages.
Swings and roundabouts...“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
No wonder there is no link to an article.
Rather misleading.
The rest of the story:
- In June, those claiming jobseekers allowance rose by 24,500 claimants.
- The above number is the biggest increase in new claimants in two years.
- The may claimant count has been upwardly revised.
- Those claiming unemplyment benefits has reached it's highest level since March 2010.
- The figures show 60% of those taking employment were on a part time basis, rather than full time jobs, leading to analysts suggesting underlying conditions remain weak.
Not trying to take anything away from the bits you posted Hamish, but what you have posted, is nicely cherry picked, and only half the story.
http://www.bbc.co.uk/news/business-141352270 -
Graham_Devon wrote: »No wonder there is no link to an article.
Because I heard it on Sky....
Regardless:
1. Less people are unemployed.
2. More people are employed.
There's really no way to spin that as bad news, but I see you've given it your best shot as always Graham.....:rotfl:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
My income actually dropped regardless of inflation, employment levels etc.:www: Progress Report :www:
Offer accepted: £107'000
Deposit: £23'000
Mortgage approved for: £84'000
Exchanged: 2/3/16
:T ... complete on 9/3/16 ... :T0 -
HAMISH_MCTAVISH wrote: »Anyone that spends less than 50% of their income on consumer goods is better off, based on average inflation versus average pay rises.
BBC ran a more indepth story on this last night on the news.
What you are saying is incorrect. For those that spend a lot on consumer goods that include toys, gaming and consumer electronics and have little, or no ties (say a single, or childless couple into high end gadgets) they may see a saving.
But for everyone else, even though the overal inflation rate has reduced, actual personal inflation has increased again, due to domestic energy, transportation costs, food costs and childcare costs.0 -
As for claimant count......"It is the second month in a row that the claimant count has risen while the unemployment total - which is based on a separate survey - has fallen.
The ONS said part of the discrepancy between the two measures was due to an increase in the number of women claiming Jobseeker's Allowance due to changes in the benefits system.
Oh, and in some more good news......The employment report said that the number of long-term unemployed fell by 37,000
:beer:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Unemployment down? Happy days.....wont be long until IR rise then.0
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