Oh Dear - The 'hidden' jobless

[Sysman]

linky

Fall in official unemployment rate masks rise in the 'hidden jobless'
Figures show 8 million 'economically inactive' people as job market shrinks

Fresh hopes that the worst is over for Britain's battered economy were raised yesterday after forecasters were confounded by the first fall in unemployment for 18 months.

But the figures showed that the country still has a growing army of eight million "economically inactive" people, with the size of the labour market declining to 28.92 million. The rate of employment is now at its lowest level since the winter of 1996-97.

Official figures showed that the headline jobless rate for the three months to November fell 7,000 to 2.46 million, the first fall since the quarter ending May 2008.

So that's over 10 million 'out of the loop'?

... increasing numbers of people are being forced into part-time work – a record high of 7.71 million, up 99,000. Just over a million employees and self-employed people were working part-time because they were unable to find full-time jobs, another record figure.

Now what was that bit about Working Tax Credits?

[ratewhore]

is this like the unknown unknowns?

[gingerjedi]

I do get the feeling that the 7,000 fall figure has somehow been massaged as it is quite close to zero change, I'd imagine they didn't really care what the figure was as long as it was positive news.

[Emigre]

So that's 12.5m on state pension, 8m unknown unknowns, a total of 6m on unemployment/jobseekers/incapacity benefit, 6m employed by the state any others?

I saw that 22m pay income tax and 25m claim benefits and that since June last year income tax doesn't cover even the benefits bill - and its got worse since then.

[DimPrawn]

So that's 12.5m on state pension, 8m unknown unknowns, a total of 6m on unemployment/jobseekers/incapacity benefit, 6m employed by the state any others?

I saw that 22m pay income tax and 25m claim benefits and that since June last year income tax doesn't cover even the benefits bill - and its got worse since then.

How long can this state of affairs last?

How long before investors realise buying UK government debt is madness?

How long before the collapse of sterling?

Not long.

[MrMark]

How long can this state of affairs last?

How long before investors realise buying UK government debt is madness?

How long before the collapse of sterling?

Not long.

Well you say that, yet the pound seems to be appreciating in value, if anything. You would have thought the shrewd currency speculators would have already pushed the pound down to nothing?
I reckon there's a big oil-field about to be discovered under Wiltshire...

[Churchill]

So that's 12.5m on state pension, 8m unknown unknowns, a total of 6m on unemployment/jobseekers/incapacity benefit, 6m employed by the state any others?

I saw that 22m pay income tax and 25m claim benefits and that since June last year income tax doesn't cover even the benefits bill - and its got worse since then.

Linky?

[xoggoth]

Hey, I'm economically inactive! I thought Iwas retired.

[HairyArsedBloke]

Linky?

Sminki

[DimPrawn]

Well you say that, yet the pound seems to be appreciating in value, if anything. You would have thought the shrewd currency speculators would have already pushed the pound down to nothing?
I reckon there's a big oil-field about to be discovered under Wiltshire...

That's because unemployment is falling and the UK is best placed in the world for the recovery, blah.



When the truth sinks in, it's sterling.