Wednesday, June 16, 2010
Unemployment falling
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

You may see some reporting of the latest unemployment figures suggesting a rise of 23,000 to 2.47 million in the wider Labour Force Survey measure of Britain's jobless. In fact, since the total was 2.51 million a month ago, this measure is on the way down again, while the claimant count, down 30,900 to 1.48 million in May, continued its improvement.

Employment rose marginally in the February-April period, by 5,000 to 28.86 million, though this was not enough to prevent a fall in the employment rate of 0.1 to 72.1% because of a growing workforce The unemployment rate also edged up 0.1 to 7.9% on the quarter but was down from the 8% reported a month ago. It is either at or very close to its peak.

The best guide to earnings growth, excluding bonuses, showed a 1.9% annual rise in the latest three months, marginally lower than the 2% recorded for the previous three months. More here.