Wednesday, October 15, 2008
Unemployment up, earnings weak
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

Though the rise in the claimant count, 31,800 to 939,900, was slightly smaller in September than August, the trend is unmistakeably higher. The Labour Force Survey measure of unemployment rose by 164,000 to 1.79m over the June-August quarter as employment dropped by 122,000. A claimant count of 1m and an LFS unemployment level of 2m by the end of the year now look likely. Average earnings rose by 3.4%, their lowest for five years, confirming the lack of threat from this source. More details here.