UK unemployment total reaches 17-year high

Mallotum_X

http://www.bbc.co.uk/news/business-15271800

UK unemployment rose by 114,000 between June and August to 2.57 million, a 17-year high, according to official figures.
The Office for National Statistics (ONS) said the unemployment rate also increased to 8.1%.
The unemployment total for 16-24 year olds hit a record high of 991,000 in the quarter.
The number of people out of work and claiming benefits rose 17,500 to 1.6 million in September.

Plus all the people hidden from the figures.

lemonjelly

Actually, that is a sizeable jump to 2.57 million. It has hovered around 2.49 million for some time.

Graham_Devon

lemonjelly wrote: »

Actually, that is a sizeable jump to 2.57 million. It has hovered around 2.49 million for some time.

It is. A bit worrying really.

Also, part time employment is still rising, which to these figures simply means "employed". But to those in part time rather than full time I'd guess it means struggling.

8.1% now unemployed.

Just shy of 1m 16-24 year olds unemployed, hitting new records.

doire_2

Shocking figures. I wonder what excuse the government will churn out.

Mallotum_X

doire wrote: »

Shocking figures. I wonder what excuse the government will churn out.

The weather seems to be a good one at the moment...

Graham_Devon

doire wrote: »

Shocking figures. I wonder what excuse the government will churn out.

It would be a shame if they tried to use any excuse.

I expect it to rise further, maybe a lot further, due to the problems we face. But wasn't expecting this sort of increase this quick.

worldtraveller

Unemployment rates tend to rise well after a recession. If this is therefore based on the last recession, only maybe tempered recently by the number of people taking on part-time work, and we are entering a new recession, I would expect official rates of over 3 million next year, which is what I'd expected sooner or later anyway TBH.

joguest

I'm waiting in eager anticipation to see how the bulls are going to provide an analysis that proves that house prices are going to go up as a result of this news.

Mallotum_X

The Employment Secretary, Chris Grayling, said that what the UK was now seeing was "the impact of the international financial crisis".
He said although the UK was not in the euro, it was "not immune" to the problems currently being experienced in the eurozone and in countries such as Greece.
There has been criticisms of the government's deficit reduction programmes, with some analysts saying it was hampering economic growth.
But Mr Grayling said the "important reason why we are pursuing deficit reduction", was to retain the confidence of commercial markets, and to encourage businesses to set up in the UK.
He also said that the latest available figures showed that over the past year more jobs had been created in the private sector than had been lost in the public sector.

So its down to Greece and everywhere else, not our fault guv.

joguest

"He also said that the latest available figures showed that over the past year more jobs had been created in the private sector than had been lost in the public sector. "

I presume he's ignoring the jobs lost in the private sector in the last 12 months.

Really2

Graham_Devon wrote: »

Also, part time employment is still rising, which to these figures simply means "employed". But to those in part time rather than full time I'd guess it means struggling.

How does a cut of 175,000 part time workers = part time employment rising?

Other figures showed a record cut in the number of part-time workers, down by 175,000,

"The drop in total employment is bigger than people thought. But it is worth noting that it is almost entirely part-time," he said.

"So in the latest quarter, full-time employment - which to me is always the single most important indicator - was down just 2,000 and it's still up over the past year by about 124,000."

How that can be spun to part time employment increasing I do no know?


The kids are getting hit hard, finishing school or university and straight in to unemployment.