UK Unemployment Slows

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UK unemployment has fallen by a further 88,000 in the three months to April, to 2.43 million, according to data released in the past hour by the Office for National Statistics. This is the largest quarterly fall in unemployment since August 2000.

The quarterly fall in unemployment occurred mainly among people aged from 16 to 24. The number of unemployed people in this age group fell by 79,000 over the quarter to reach 895,000, the lowest figure since the three months to April 2009.

The unemployment rate is 7.7%, according to the ONS, down from 7.9% in the previous quarter.

But the number of people claiming Jobseekers’ Allowance increased by 19,600 to 1.49 million, marking the biggest such rise since July 2009.

1 Comment

  1. Lukasek

    “he asset bubble of 2000 did not reepnsret real wealth. You can continue to compare today’s household wealth to that artificial figure. All that shows is that wealth on paper in 2000 was not sustainable. It was artificial.”that’s not really a valid argument.neither was 2006.that has been my whole point all along: that the wealth that the greenspan bernanke bubble era has created has all been fake and has all wound up going away.oddly, i think you just agreed with me.we have been trying to print prosperity for 15 years and it has failed.that was my whole point when this discussion started.instead of prosperity we have gotten poor growth, no real per cpaita wealth increases, and a big debt burden (and do not forget that leverage matters. net wealth of 150k and no debt is far different from 300k in assets and 150k in debt if anything bad happens).my whole argument is that these polices and attempts to control the business cycle have been a dramatic failure.we just get bubbles and busts that keep piling into one another and getting bigger.the .com bubble was the easiest kin of bubble to clean up. like the railroad bubble, it was a bubble in productive assets funded by equity.we swapped it for the hardest kind of bubble (debt funded non productive assets) in the housing bubble.we are now running one in federal debt that is the kind of thing that can wreck a whole society.this is what i am railing against and peak is supporting.he claims that the fed has done a great job controlling the business cycle and creating prosperity and wealth.i think the evidence argues otherwise.we have never seen concatenated bubbles like this. it’s coming from somewhere. with money supply growing at 2X nominal gdp, i think it’s pretty easy to see where.

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