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Unemployment falls, Employment rises, wages up
Comments
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Graham_Devon wrote: »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.
Graham the pedant strikes again....
I'll add a word to avoid confusion.
Anyone that spends less than 50% of their income on consumer goods/services is better off, based on average inflation versus average pay rises.“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 -
HAMISH_MCTAVISH wrote: »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:
I'm not spinning it as bad news.
I'm telling it how it is. The above were the facts which you decided not to post, or even reference. Employment may have fallen, but due to 60% of posts being part time.
Analysts therefore are not cheering on the news, after looking at what the fall is made up of.
http://www.guardian.co.uk/business/2011/jul/13/unemployment-what-the-experts-say
Read it youself. Hardly optimism shining through in any of those comments.0 -
Unemployment down? Happy days.....wont be long until IR rise then.
If by "won't be long" you actually mean "sometime in 2012 or 2013, but even then only by a miniscule amount", then I'd agree.
From Grahams link.....Meanwhile, although underlying wage growth picked up from 2.2% in April to 2.4% in May, it is still little changed from the muted levels seen over the past year and it is substantially below the levels that have concerned the Bank of England in the past.
As such, it does little to dilute belief that the Bank of England is likely to keep interest rates down at 0.50% into 2012 and there continues to be little risk of a damaging wage-prices spiral developing.
Happy days indeed..... “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 -
Graham_Devon wrote: »
But for everyone else, even though the overal inflation rate has reduced, actual personal inflation has increased again,
You have to get in your head that brisk inflation is not going to go away in a world with 50m more souls per annum arriving. So waht, it is what it is.
We Westerners throw masses of food away, dump tons of little used toys etc - we consume far more than we really need. Rising costs = change the way we live some.0 -
HAMISH_MCTAVISH wrote: »If by "won't be long" you actually mean "sometime in 2012 or 2013, but even then only by a miniscule amount", then I'd agree.
That miniscule amount will be enough to tip many people over the edge:) 0 -
That miniscule amount will be enough to tip many people over the edge:)
Glad to see you're pleased about that. It amply illustrates the sort of crashaholic scumbag you are.
Happily though, according to the BOE, the numbers won't be enough to cause a big rise in arrears and repossessions.An interest rate rise would not send home repossessions rocketing, a Bank of England official has said.
Professor David Miles said he was "not so pessimistic" about the extent that arrears and repossessions would rise.
Mr Miles acknowledged a rise in interest rates - which have been at a record low of 0.5% for more than two years - would have an impact, but that it would not unleash a massive wave of repossessions.
Speaking to MPs on the Treasury Committee, he said: "It's certainly true that the total amount of household debt relative to size of the economy is significantly larger than it was 20 years ago."
He added: "I'm not so pessimistic about the risk that arrears and repossessions move up sharply."“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 -
HAMISH_MCTAVISH wrote: »Glad to see you're pleased about that. It amply illustrates the sort of crashaholic scumbag you are.
.
As opposed to a HPI loving scumbag
As for your BOE quote it was in response to a report by some other body who said a wave of repossesions would hit the UK0 -
So are you simply going to disregard the fact that 60% of these people who now have jobs, are actually part time? Thats less than 16 hours a week I believe?
As long as the employment figure is up, it doesn't matter how? It's just good?0 -
As opposed to a HPI loving scumbag
Yep.
I love HPI almost as much as I love reading about depressed hpc-ers giving in and buying houses after wasting 5 years of their life waiting for the crash that ain't coming.As for your BOE quote it was in response to a report by some other body who said a wave of repossesions would hit the UK
And that's different to "tip many people over the edge" how exactly?“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 -
Graham_Devon wrote: »60% of these people who now have jobs, are actually part time? Thats less than 16 hours a week I believe?
Source?
Over the last year, employment in the private sector has increased by 520,000, while employment in the public sector is down by 143.000.
Can you provide a link that 60% of those jobs are less than 16 hours a week?“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
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