Chit Chat
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12 Aug 15
12:07
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Date Joined:
05 Apr 06
Fears that the improvement in Britain’s labour market has stalled have been fuelled by a second successive month of job losses.
Official data showed that the number of people in work was 63,000 lower in the three months to June than in the previous quarter, while the number unemployed rose by 25,000.
Employment rose over the past year but most of the jobs went to non-UK citizens. The number of non-UK nationals working in the UK increased by 257,000 to 3.1m while the number of working UK nationals rose by 84,000 to 27.7m.
David Freeman, statistician at the Office for National Statistics, said: “This is now the second consecutive time we’ve reported fewer people in work on the quarter. While it’s still too early to conclude that the jobs market is levelling off, these figures certainly strengthen that possibility.”
The pound fell after the release of the ONS data as traders pushed back their expectations of the timing of an increase in interest rates from the Bank of England.
The state of the labour market is one of the most important indicators looked at by Threadneedle Street’s monetary policy committee and the current figures point to falling demand for jobs, fewer hours being worked, and little evidence of a surge in pay inflation.
Unemployment on the internationally agreed measure rose to 1.85 million between April and June while the number employed dropped to 31.03 million. The jobless total was still 221,000 lower in the second quarter of 2015 than in the same three months a year earlier, according to the ONS.
Regular pay for employees stood at £463 a week in June, up 2.8% on a year earlier. The annual growth rate was unchanged on the previous month. Total pay including bonuses was £488 a week, with the growth rate dropping from 3.2% to 2.8%.
Official data showed that the number of people in work was 63,000 lower in the three months to June than in the previous quarter, while the number unemployed rose by 25,000.
Employment rose over the past year but most of the jobs went to non-UK citizens. The number of non-UK nationals working in the UK increased by 257,000 to 3.1m while the number of working UK nationals rose by 84,000 to 27.7m.
David Freeman, statistician at the Office for National Statistics, said: “This is now the second consecutive time we’ve reported fewer people in work on the quarter. While it’s still too early to conclude that the jobs market is levelling off, these figures certainly strengthen that possibility.”
The pound fell after the release of the ONS data as traders pushed back their expectations of the timing of an increase in interest rates from the Bank of England.
The state of the labour market is one of the most important indicators looked at by Threadneedle Street’s monetary policy committee and the current figures point to falling demand for jobs, fewer hours being worked, and little evidence of a surge in pay inflation.
Unemployment on the internationally agreed measure rose to 1.85 million between April and June while the number employed dropped to 31.03 million. The jobless total was still 221,000 lower in the second quarter of 2015 than in the same three months a year earlier, according to the ONS.
Regular pay for employees stood at £463 a week in June, up 2.8% on a year earlier. The annual growth rate was unchanged on the previous month. Total pay including bonuses was £488 a week, with the growth rate dropping from 3.2% to 2.8%.
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Replies: 40
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green shoots of recovery
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Just wait until the tax credit cuts come in....
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Just wait til those migrants get in.
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Hurrah for Gideon's economic miracle!!
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Must be a million migrants in the Black Economy....not paying tax....many with criminal records
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Just wait till we start cooking with are own Gas
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Any of them fancying having a go at being Chancellor? Osborne has made a complete mess of it, despite what the Tory press are saying.
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Doubled the national debt in five years, that's good going surely?
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It's a loooooooooooooooooooooonnnnnnnnnnnnnnnnnnnnnng term economic plan. A cunning one i'll wager.
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BBC have just found a reason why unemployment maybe up....firms are trying to increase productivity by investing in better machinery.
Everything is Fine....Just Fine....! |
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Unemployment up by 25000.
The question we need to ask is by how much did the adult population increase in the same period? |
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The number of people in work fell by 63,000, so how is any population increase supposed to put a better spin on the figures?
Macarony = G Osborne imo. |
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The unemployment figures are based on the Labour Force Survey, in which the ONS speaks to 60,000 households once a quarter, making it the country's biggest household survey.
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everything is everyone else's fault
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blame the luvvies
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It's the BNP, I tell thee !
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Employment is up for migrants by 115,000 so not all bad news
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Did 115,000 arrive yesterday?
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The Tory's plan basically entails "please continue to buy crap and get into more debt while you are at it!"
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The BBC were quite correct in their assessment. Firms cannot just increase their wages bill in line with the rising 'minimum' wage. They will have to increase output per capita. And decrease employee numbers.
'Twas ever thus! |
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There will be a catch 22 scenario where this supposed worship of 'choice' being the saviour of civilisation will be attacked as companies fire and varied production diminishes with decrease of subsidy. The tide will go out on many businesses.
Good, there is too much crap in the market place and choice has become counter productive. |
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Ever greater automation is going to keep on increasing, this will have a huge impact on us all one way or another, future generations face a very uncertain future. More automation equals less people
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In the work place
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Destroy the Robots !
Before it is too late ! |
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The future will either be very very good or very bad. If the current crop of @rse holes are still running the world it will be the latter
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There is an element of truth to that marcony but it's an argument that has been used for centuries.
The suggestion within economics however is the jobs lost through technological advances are created elsewhere through more opportunity. That's the argument but I don't know if anyone ever did the hard sums to prove it or not. |
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Very true dusty but there is now more than 7 billion of us what's going to happen to the surplus among us if the wrong people are still in charge
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well if you dont provide jobs then your products wont be available to those people without jobs.
lose lose for the businesses. the ones in healthy positions profiteered off subprime and now have just woken up that they may have bitten themselves on the backside. shortermism |
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UK workers won't be affected too much by automation, you need a manufacturing industry for that!
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The theory was that competition lead to price decreases and innovation. To an extent that does happen, but like everything there seems to be an equilibrium which has been surpassed.
What tends to happen in reality is that price competition leads instead to deflated quality created by disencentivised work forces that churn out rubbish that then needs replacing. (Or have a sub standard service within the other sectors) The companies that go to the wall due to subsidy arguably shouldn't be in business. If that happens and unemployment rises then I'd imagine the government would have to think up new impetus or get thrown out. Britain is a middle man country, it doesn't actually do that much, it ponces around buying back shares in companies or speculating on invented nonsense, my concern is that this might further erode innovation and creat more bloody spivs gambling on ethereal entities. |
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Dustybin, one example of that being Wedgwood. Made in Indonesia.
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Only idiots buy named goods made in the far east and thinks they are buying the real McCoy. Having said that Britain is full of them.
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Yes Die Linke,
Britain is the shop front for everything now made elsewhere, it's the middle man who charges a fee and waits on a boat from China for delivery. The balance of payments is held up by encouraging oligarchs and financial thieves and opportunists from elsewhere to buy into the financial sector instead of actually producing anything tangible. |
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Those of you who scoff at the modest increase in unemployment and doubling of the deficit in 5 years should just consider for a moment how much worse it would be were it not for the government´s responsible public spending cuts and austerity policy...
...or how much worse it would be under JC? (Jeremy Corbyn that is, not Jesus Christ obviously...he would be even worse - absolutely no idea about macro economic management within a global capitalist system) |
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Your children will Not have Work, no House and will "Bleed" you dry of your pension pot money over the next 10-20 Years,
if there has not been a civil war in the mean time. Although "Fortress London" is getting well protected with all the Road Block Checkpoints, Armed Police, 500,000 CCTV`s etc. (1 in every 260 people are Employed in the British Police Force, one way or another). |
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the government´s responsible public spending cuts and austerity policy
excuse me while I guffaw, TiptheOdds! |
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as more and more foreigners pour into this country taking jobs
have you seen the latest figures herr farage warned us - and he was right |
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Those of you who scoff at the modest increase in unemployment and doubling of the deficit in 5 years should just consider for a moment how much worse it would be were it not for the government´s responsible public spending cuts and austerity policy...
same old line trotted out by the orange suckers. you c***s stiffled business and kept people on low wages lowering the standard of living which we will now pay for. |
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sorry jock, just fishing...
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