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.... When the financial crisis of a decade ago ended in a deep recession, demand for Chinese goods suddenly dried up. With the risk that factory closures and mass unemployment would breed political unrest, the Chinese government replaced the burst western credit bubble with a credit bubble of its own. ... [Read full article on Guardian ]
Sunday 13th of August 2017 11:00:12 AM
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....Consumers got a glimpse of some respite this week from surging inflation after the vote to leave the European Union, as the consumer price index remained static at 2. 6%, while pay growth showed signs of edging up after the lowest level of unemployment since the mid-1970s potentially handed workers more bargaining power. ... [Read full article on Guardian ]
Wednesday 16th of August 2017 03:16:50 PM
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. Japan’s economy expanded at the fastest pace for more than two years in the three months to June, with domestic spending accelerating as the country prepares for the 2020 Toyko Olympics and low levels of unemployment encouraged businesses to invest. ... [Read full article on Guardian ]
Monday 14th of August 2017 02:23:48 AM
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. UK pay growth has started to edge up amid signs that the lowest level of unemployment since the mid 1970s may be increasing workers’ bargaining power. ... [Read full article on Guardian ]
Wednesday 16th of August 2017 08:36:46 AM
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....6% in June. The figures will be released by the Office for National Statistics (ONS) on Tuesday, followed by labour market data the next day which are expected to show wage growth stagnated while unemployment continued to fall. ... [Read full article on Guardian ]
Sunday 13th of August 2017 03:28:41 PM
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....“Despite consumers finding their purses a little lighter each month, the supermarkets continue to find ways to help shoppers adapt their spending rather than rein it in,” he said. The figures come as the economy shows greater signs of resilience than expected, with the UK recording its lowest level of unemployment since the mid 1970s. ... [Read full article on Guardian ]
Thursday 17th of August 2017 11:26:01 AM
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....The July inflation data is significant because it shows higher costs for consumers outstripping expected growth in pay, which the BoE has said could be hindered by uncertainty over Brexit harming companies’ willingness to raise wages. The Chartered Institute of Personnel and Development and recruitment firm Adecco said on Tuesday that basic pay over the next 12 months was expected to rise by just 1%, well below the pace of inflation, even amid low levels of unemployment. ... [Read full article on Guardian ]
Tuesday 15th of August 2017 05:10:12 PM
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Latest Finance News related to Unemployment

Rising inflation leads to sales falls in all UK retail sectors apart from food image
....“Despite consumers finding their purses a little lighter each month, the supermarkets continue to find ways to help shoppers adapt their spending rather than rein it in,” he said. The figures come as the economy shows greater signs of resilience than expected, with the UK recording its lowest level of unemployment since the mid 1970s. ...
UK car buyers turn to secondhand vehicles image
Source : Guardian [Read Article] Wednesday 16th of August 2017 03:16:50 PM
....Consumers got a glimpse of some respite this week from surging inflation after the vote to leave the European Union, as the consumer price index remained static at 2. 6%, while pay growth showed signs of edging up after the lowest level of unemployment since the mid-1970s potentially handed workers more bargaining power. ...
UK pay growth picks up as unemployment rate falls again image
Source : Guardian [Read Article] Wednesday 16th of August 2017 08:36:46 AM
. UK pay growth has started to edge up amid signs that the lowest level of unemployment since the mid 1970s may be increasing workers’ bargaining power. ...
Pound falls against dollar as inflation comes in lower than expected image
Source : Guardian [Read Article] Tuesday 15th of August 2017 05:10:12 PM
....The July inflation data is significant because it shows higher costs for consumers outstripping expected growth in pay, which the BoE has said could be hindered by uncertainty over Brexit harming companies’ willingness to raise wages. The Chartered Institute of Personnel and Development and recruitment firm Adecco said on Tuesday that basic pay over the next 12 months was expected to rise by just 1%, well below the pace of inflation, even amid low levels of unemployment. ...
Pound V euro: GBP slumps against EUR as UK inflation holds steady image
Source : Daily Express [Read Article] Tuesday 15th of August 2017 11:43:00 AM
....Looking ahead, the GBP/EUR exchange rate may stumble on Wednesday following the release of the UK’s latest employment data. Britain’s unemployment rate is expected to hold at a 42-year low of 4. ...
Japanese economy posts longest expansion in more than a decade image
Source : Guardian [Read Article] Monday 14th of August 2017 02:23:48 AM
. Japan’s economy expanded at the fastest pace for more than two years in the three months to June, with domestic spending accelerating as the country prepares for the 2020 Toyko Olympics and low levels of unemployment encouraged businesses to invest. ...
How Trump v Kim can wreck the world economy without a shot being fired | Larry Elliott image
.... When the financial crisis of a decade ago ended in a deep recession, demand for Chinese goods suddenly dried up. With the risk that factory closures and mass unemployment would breed political unrest, the Chinese government replaced the burst western credit bubble with a credit bubble of its own. ...
Too much hinges on house prices: but Britain may yet avoid a crash image
Source : Guardian [Read Article] Saturday 12th of August 2017 03:00:47 PM
.... The extremely difficult period in the late 80s and early 90s was caused by a doubling of interest rates from 7. 5% to 15%, which in turn led unemployment to rise to more than three million. ...
Jacques Delors foresaw the perils of austerity. How we need his wisdom now | Mark Seddon image
. During the darkest days of Thatcher’s de-industrialising, high unemployment, beggar-thy-neighbour dystopia of the early 1980s, there was one European leader who offered hope to the beleaguered ranks of industrial workers in the “rust belt” of former mining, steel, engineering, fishing and shipbuilding towns. ...
Pay is finally edging up, says Bank of England report image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:39:17 PM
. Long-awaited signs of pay growth have been detected by the Bank of England amid evidence that a steady fall in unemployment is making it harder to find staff. ...
Total UK wealth tops £10tn thanks to City and property boom image
Source : Guardian [Read Article] Monday 7th of August 2017 11:01:22 PM
....Russell Galley, the managing director of the Halifax bank, said the annual house price increase was the lowest seen since April 2013. “The rise in the employment level by 175,000 in the three months to May helped push the unemployment rate down to 4. ...
Why 'economic anxiety' doesn't explain One Nation and the far-right's return | Greg Jericho image
....2 million people:. The Grattan Institute’s latest working paper, Regional patterns of Australia’s economy and population, looks at the impact of these upheavals to see whether some of the increase in support for more protectionist and nationalistic parties and policies has been fuelled by economic factors that are hidden by general measures such as GDP and national unemployment rates. ...
House prices fall for FOURTH quarter in a row but here’s why homeowners shouldn't panic  image
....However, prices keep rising amid a low levels of supply. Russell Galley, managing director at Halifax Community Bank, said: “The rise in the employment level by 175,000 in the three months to May helped push the unemployment rate down to 4. ...
Employment statistics tell skewed story about UK jobs market Katie Allen image
....4 million people, or 18% of the labour force (taking a broader view than official statistics by also including those who are inactive but who would like to work). No wonder the old relationship between pay and headline unemployment is dead. ...
Cowes Week sailing extravaganza spawns a renting boom in Isle of Wight image
.... According to the End Child Poverty campaign, the island ranks as the fourth worst parliamentary constituency for child poverty in the country. The island hit the headlines last year when the former chairman of Ofsted, David Hoare, was forced to stand down after describing the island as a “ghetto” of mass crime, high unemployment, drug addiction and inbreeding. ...
US jobs report: Trump given good news as economy adds 209,000 jobs in July image
....The US economy added 209,000 new jobs in July – the second month in a row of 200,000-plus jobs growth. The unemployment rate fell to 4. ...
The Bank keeps hinting at a rate rise. Markets will only listen for so long image
.... It can dangle out the prospect of a rate rise without ever having to deliver one. But will the markets really be convinced? The Bank’s assumption is that unemployment is at a level – 4. ...
Brexit is putting firms off giving pay rises, says Bank of England image
Source : Guardian [Read Article] Thursday 3rd of August 2017 11:13:47 AM
....Carney’s account of what firms had been saying to Bank officials on pay and Brexit uncertainty may upset leave supporters. The governor drew criticism in the run-up to the EU referendum when he said there was a risk a vote for Brexit could spark a recession and raise unemployment. ...
Eurozone economy grows twice as fast as UK's, figures show image
Source : Guardian [Read Article] Tuesday 1st of August 2017 12:07:04 PM
.... But growth has slowed markedly since the turn of the year as a weaker pound has raised the cost of imports, pushed up inflation and squeezed consumers. In the eurozone, growth has quickened and unemployment has fallen against the backdrop of ultra-low interest rates and other measures by the European Central Bank (ECB) to boost activity. ...
Interns beware: working for free could put a dent in your career image
Source : Guardian [Read Article] Saturday 29th of July 2017 09:01:01 PM
.... Among the former group were those with parents in professional or managerial jobs, those who went to independent schools or so-called “elite” universities, and those graduating with a first or upper second class degree. Among the latter were black and ethnic minority graduates, those with disabilities, and those from areas with a higher unemployment rate. ...
Why not fund the welfare state with a 100% inheritance tax? | Abi Wilkinson image
.... Where’s the evidence that people without children are less productive, on average? And those who are motivated by a desire to help their family will presumably still want to do so while they’re alive. Honestly, if people did decide to retire earlier and enjoy their later years, instead of slaving away for as long as possible, would that be such a bad thing? And given that youth unemployment is such an issue, it may well be socially beneficial to free up those jobs. ...
'Britain is fast becoming the sick man of Europe' – experts debate Brexit data image
....5% – the lowest we have seen for more than 40 years. But if slow growth continues through this year, as seems likely, unemployment is likely to start edging up. ...
The cost of living crisis is down to Brexit. The chickens are coming home to roost | David Blanchflower image
....The question for the UK’s monetary policymakers is what they should do when inflation is high but the economy is slowing, as occurred in July and August 2008, although on a much worse scale. Inflation may be bad – it erodes the value of people’s savings – but low growth and unemployment are much worse. ...
How could we cope if capitalism failed? Ask 26 Greek factory workers | Aditya Chakrabortty image
.... It used to employ about 350 people; now the 26 men and women operate out of one small corner of the lot. They earn the same amount as they would receive in unemployment benefit. ...
What Brexit slowdown? UK housing market shrugs off concerns as property prices creep up image
....Miles Shipside, Rightmove director and housing market analyst, said: “A year on from the shock referendum result and subsequent dent in activity levels, the fundamentals remain strong. “Low unemployment, low interest rates, strong demand and historic undersupply of homes are mitigating any wobbles in confidence and as a result nearly half the properties on the market, over 45 per cent, have sold signs slapped across them. ...
UK housing market shrugs off concerns of Brexit slowdown image
Source : Guardian [Read Article] Sunday 16th of July 2017 11:01:34 PM
....Miles Shipside, Rightmove director and housing market analyst, said: “A year on from the shock referendum result and subsequent dent in activity levels, the fundamentals remain strong. “Low unemployment, low interest rates, strong demand and historic undersupply of homes are mitigating any wobbles in confidence and as a result nearly half the properties on the market, over 45%, have sold signs slapped across them. ...
Election euphoria won’t last if Labour doesn’t foil Brexit folly image
Source : Guardian [Read Article] Sunday 16th of July 2017 05:59:13 AM
.... Like us, at the moment, it possesses all the advantages of EU membership, not least from belonging to a powerful trading bloc: it is also not a member of the eurozone, whose economic policies have been far too deflationary. The recent recovery in the eurozone is to be welcomed, but by no means justifies the previous policies that aggravated unemployment in so many countries, especially Greece. ...
UK interest rates aren't about to rise as real pay slides | Larry Elliott image
....Unemployment matters to the eight members of the Bank’s monetary policy committee because they are looking for evidence that a reduction in the jobless rate – a tightening of the labour market in the jargon of the trade – is leading to a pick-up in wage inflation. The idea is that falling unemployment changes the balance of power in the labour market. ...
UK pay squeeze intensifies as real wages continue to fall image
Source : Guardian [Read Article] Wednesday 12th of July 2017 10:35:05 AM
....4% fall in the previous three months, according to figures from the Office for National Statistics. Real pay fell despite a surprise drop in the unemployment rate from 4. ...
Political upheaval will lead to UK economy slowing down, says Moody's image
Source : Guardian [Read Article] Tuesday 11th of July 2017 12:51:23 PM
....S&P said the better-than-predicted performance of the economy in 2016 had been the result of “extraordinarily robust consumer spending” but added that the pressure on households from prices rising more rapidly than wages was likely to persist for the rest of 2017 and into 2018. Figures due out on Wednesday will show whether the lowest unemployment since the 1970s has started to have an upward effect on earnings, which are currently growing by just over 2% a year. ...
Trump's growth problem: jobs boost masks trouble ahead for US economy image
....“Economic growth under President Trump looks a lot like economic growth under President Obama,” said Faucher. With the unemployment rate at a 16-year low after 81 consecutive months of growth, goosing a little extra gas out of the economy would mean adding more workers. ...
In other circumstances, we’d raise rates. But with Brexit looming, how can we? image
.... Two more rises could follow in 2018, should the expected inflationary pressures stay in place. Michael Saunders, one of the three policymakers to vote for a rise at the monetary policy committee’s meeting last month, qualified his call for a rise when he told the Guardian: “If rates do go up, it will be in the context of the economy doing OK and unemployment being low and probably falling. ...
Theresa May defends public sector pay cap under pressure from Labour image
Source : Guardian [Read Article] Wednesday 5th of July 2017 07:23:29 PM
.... “Technological change, from automation to decarbonisation, means that many jobs and industries will disappear or shrink in the coming years and decades. But I am not one of the doom-mongers, who believe that will inevitably herald an era of mass unemployment. ...
Bank of England's Michael Saunders: 'Prepare for higher interest rates' image
....“I think households should prepare for interest rates to go higher at some point. But if rates do go up, it will be in the context of the economy doing OK and unemployment being low and probably falling,” he said. ...
Skills shortage costs British businesses £2bn a year, survey finds image
.... The findings will add to concerns that employers are already struggling to fill key jobs even before a potential clampdown on immigration once Britain leaves the EU. Open University researchers noted that unemployment was low, those in work were reluctant to move jobs because of continued Brexit uncertainty and that a lack of clarity about future immigration rules was deterring some EU nationals from taking up roles in Britain. ...
Can the Bank get Britain to kick its cheap credit habit? image
Source : Guardian [Read Article] Saturday 1st of July 2017 03:00:02 PM
....As the main source of financial instability in 2008, the mortgage market has come under closer scrutiny in recent years than ever before. The Prudential Regulatory Authority, an arm of the Bank of England that overseas the financial sector, has put in place tough rules that force banks to hold huge reserves in case unemployment increases and borrowers can no longer afford their monthly payments. ...
'Tourism is our lifejacket': debt-stricken Greece gets record number of visitors image
....With the exception of shipping, tourism is Greece’s biggest foreign earner, the mainstay of an economy that has otherwise contracted by 27% since late 2009 when the country’s debt crisis began. The industry accounted for eight out of 10 new jobs in 2016, vital for a nation hit by crippling levels of unemployment. ...
UK workers 'frustrated by flatlining pay', says key economist image
Source : BBC [Read Article] Thursday 29th of June 2017 09:10:00 PM
....Businesses need to benchmark themselves against other firms to see whether they are performing above average, he said. Pay growth has been falling rather than rising over the past year, which has taken the Bank and the rest of the world "somewhat by surprise" given buoyant UK jobs growth and falling unemployment. ...
Pound leaps as Carney says growth will be factor in interest rate debate image
Source : Guardian [Read Article] Wednesday 28th of June 2017 03:15:46 PM
....9% and expected to rise further above the government’s 2% target over the coming months. The three MPC members who voted for a rate rise believe the lowest unemployment rate since the 1970s will generate pressure for higher wages and that, unless policy is tightened now, there is the risk that a more aggressive stance will have to be announced later. ...
With politics turned on its head, Labour sticks to Brexit ambiguity image
Source : Guardian [Read Article] Sunday 25th of June 2017 01:05:57 PM
....Some in the remain camp have taken heart from the fact that France is growing more quickly than the UK, hopeful that this might engender the much-anticipated buyers’ remorse. There is not yet much sign of this, perhaps because voters are smart enough to realise that one quarter does not make up for decades of slow growth and high unemployment in France, and perhaps also because countries are sometimes willing to accept some short-term economic pain for a political objective. ...
Central banks raise alarm over new crash after steep rise in lending image
Source : Guardian [Read Article] Sunday 25th of June 2017 10:30:27 AM
....Claudio Borio, the chief economist at the BIS, welcomed a turnaround in global growth over the past year that had “strengthened considerably and [was] forecast to return to long-term averages soon”. He said: “Economic slack in the major economies has diminished further; in some, unemployment rates have fallen back to levels consistent with full employment. ...
Brexit economy: UK faces slowdown amid living standards squeeze image
Source : Guardian [Read Article] Thursday 22nd of June 2017 11:01:36 AM
....Wages are now falling in real terms – adjusting for inflation – and the squeeze on household budgets has hurt consumer-facing businesses. But unemployment remains at a 42-year low, a drop in imports has narrowed Britain’s trade deficit and the pound’s renewed weakness has boosted the FTSE 100 by flattering the performance of companies that operate overseas and report their earnings in dollars. ...
Low wages are 'return to pre-industrial Britain', says Bank of England economist image
....Haldane, whose speech revealed differences with the Bank’s governor, Mark Carney, over interest rates, said the read-across from pre-industrial Britain to the 21st century was not exact but that there were parallels with today’s gig economy. He added that there was evidence that changes in the nature of work had been a factor in explaining why wage growth was running at just 2% at a time when unemployment was the lowest since the mid-1970s. ...
Why is productivity so low since the crisis – particularly in the UK? | Howard Davies image
....The Bank of England has acknowledged that trade-off, estimating that productivity would have been 1% to 3% higher in the UK had it raised interest rates to pre-crisis levels in the recovery phase. But they believe the consequences – slower income growth and higher unemployment – would have been unacceptable. ...
Pain without gain: the truth about austerity | Phillip Inman image
Source : Guardian [Read Article] Sunday 18th of June 2017 04:54:09 PM
....It all adds up to an economy running on empty, with everyone, including ministers, borrowing extra each year just to keep the wheels turning. At a time when the official figures show employment at a record high and unemployment at a historical low, the workforce should be enjoying wage rises of at least 4% or 5%. ...
Brexiters have voted for a poverty even worse than austerity image
Source : Guardian [Read Article] Sunday 18th of June 2017 06:00:04 AM
.... Way back in 1980, in the early stages of Mrs Thatcher’s sado-monetarist regime, the great JK Galbraith wrote in this newspaper: “British social services and social insurance soften what elsewhere might be intolerable hardship. British phlegm is a good antidote for anger; but so is an adequate system of unemployment insurance. ...
Bank of England doves right to thwart hawks seeking interest rate rise image
Source : Guardian [Read Article] Thursday 15th of June 2017 01:18:37 PM
.... Inflation is heading above 3%, at which point the Bank’s governor, Mark Carney, will have to write an explanatory letter to the chancellor, Philip Hammond. The continued fall in unemployment also meant a tighter labour market and, although the weak pound has put the brakes on consumer spending by making imports dearer, the other side of the coin is that a more competitive currency is helping exports and encouraging businesses to invest. ...
Fed raises interest rates again in further sign of confidence in US economy image
....25%, the third consecutive quarterly increase. The move follows a record run of jobs growth in the US that has driven the unemployment rate down to its lowest level in 16 years. ...
UK pay squeeze breaks all sorts of records for all the wrong reasons | Larry Elliott image
....The recession officially came to an end by late 2009 and after a couple of years of weak and patchy growth, the worst seemed to be over. Activity picked up, unemployment started to come down. ...
UK economy falls to bottom of EU growth league image
Source : Guardian [Read Article] Thursday 8th of June 2017 05:33:45 PM
....Prospects for the 19-nation eurozone, by contrast, have brightened. Political uncertainty has diminished now France’s presidential election is out the way, unemployment has fallen, business surveys point to solid demand and a continuing recovery in the global economy could boost exports, economists say. ...
Take a bow Mario Draghi – has the ECB chief saved the eurozone? image
Source : Guardian [Read Article] Thursday 8th of June 2017 02:21:01 PM
.... Again, this follows the example of the Fed and the Bank of England. No question, the ECB is in a far better place than it was this time five years ago, when the economy was dipping in and out of recession, unemployment was rising and there were real fears that Italy and Spain would be the next dominoes to fall in Europe’s debt crisis. ...
Topshop owner sees profits dive by 79% image
Source : BBC [Read Article] Thursday 8th of June 2017 12:44:18 AM
....Market conditions remained "challenging and very competitive", with new players entering the market particularly online, it continued. And while UK unemployment was low and consumer credit availability continued to rise "the slow growth in average earnings impacts the spending power of customers". ...
Austerity has strangled the British economy. Only Labour gets this | Joseph Stiglitz image
.... So not only does it create jobs once: the investment creates jobs multiple times. The result of that is that the economy grows by a multiple of the initial spending, and public finances turn out to be stronger: as the economy grows, fiscal revenues increase, and demands for the government to pay unemployment benefits, or fund social programmes to help the poor and needy, go down. ...
Tories have ‘shameful record’ on FOBT gambling, says Labour image
Source : Guardian [Read Article] Tuesday 6th of June 2017 05:19:03 PM
....7bn for all constituencies tallies with the amount the Gambling Commission said bookies took from FOBTs in the 2015-16 year. The data also provide fresh evidence of “clustering” by bookmakers, which have been accused of targeting areas suffering from low wages, high unemployment and high rates of child poverty. ...
Wealth 'begins at £134,170 a year' image
Source : BBC [Read Article] Monday 5th of June 2017 02:41:04 PM
....But in south east England, you'd have to be earning £162,844 to be seen as rich, 78% more than in Wales. "The labour market is creating jobs at a steady rate and unemployment is at its lowest level for more than four decades," said Mariano Mamertino, an economist at Indeed. ...
The global economy can recover faster if we avoid the obvious pifalls | Nouriel Roubini image
.... The Fed would then have to hike rates rapidly to catch up at the risk of triggering a recession. A related risk is that increasing rates too slowly could lead to an asset-price bubble and all the dangers – frozen credit markets, soaring unemployment, plummeting consumption, and more – implied by its inevitable deflation. ...
The strange death of strikes in Britain image
Source : Guardian [Read Article] Saturday 3rd of June 2017 06:00:46 AM
....Yet it’s still remarkable how few worker rebellions there are. Economic theory suggests that with unemployment so low – back to the levels of 1975 – and the stock market at a record high, fuelled by record profits, workers should be able to negotiate better pay. ...
US adds fewer jobs than expected image
Source : BBC [Read Article] Friday 2nd of June 2017 12:56:13 PM
. US employers added fewer jobs than expected in May, but the unemployment rate dipped further as the economy headed toward full employment. ...
UK house prices fall for third month in a row for first time since financial crisis image
....”. He noted real incomes were under pressure as inflation had overtaken wage growth, although the number in work continued to rise at a healthy pace and the unemployment rate hit a 42-year low in the three months to March. ...
House prices fell again in May, Nationwide says image
Source : BBC [Read Article] Thursday 1st of June 2017 07:29:31 AM
....However, Mr Gardener said: "The number of people in work has continued to rise at a healthy pace. Indeed, the unemployment rate fell to a 42-year low in the three months to March. ...
Would a four-day week work? image
Source : BBC [Read Article] Wednesday 31st of May 2017 09:13:12 AM
....Trying to boost productivity by reducing hours worked would not be without its costs. France has higher unemployment than the UK. ...

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