UK unemployment reaches 5 year low. Daily Mail mocks itself

[Josquius]

I read this article today.

http://www.dailymail.co.uk/news/article-2628298/Biggest-surge-employment-records-began-43-years-ago-women-work-before.html

Britain is 'getting back to work', David Cameron declared today as the number of people in a job soared by the highest figure since records began.

Employment levels rose by 283,000 in the last three months - the largest quarterly increase in 43 years.

The proportion of women in work reached 67.7 per cent, a new record high, as total unemployment fell by 133,000 to 2.2million in the three months to March, the lowest level since January 2009.
There are a record 30.430million people in work, up by 283,000 on the end of last year

There are a record 30.430million people in work, up by 283,000 on the end of last year
Female employment rates hit 67.7 per cent, a new high, according to the Office for National Statistics

Female employment rates hit 67.7 per cent, a new high, according to the Office for National Statistics

More than 30.4million people are now in work - the highest since records began in 1971 - while self-employment has also reached a record high of 4.5million.

The number of people working for themselves jumped by 183,000 in the quarter to March, compared with a rise of 375,000 over the past year.

Other data from the ONS showed that jobseeker's allowance claimants fell by 25,100 in April to 1.12 million, the 18th consecutive monthly reduction.

Meanwhile, pay growth rose more than inflation for the first time since 2010 but was below forecasts.

Average earnings, including bonuses, increased by 1.7 per cent in the year to March, slightly ahead of the latest CPI inflation rate of 1.6 per cent. Economists had expected pay to grow by 2.1 per cent.



The number of economically-inactive people fell by 85,000 in the latest quarter to 8.85 million, while long-term and youth unemployment also fell.

The number of people in a job rose 283,000 in the last three months - the largest quarterly increase in 43 years.

David Cameron highlighted the figures during Prime Minister's Questions in the Commons, saying: 'We are getting the country back to work.'

The number of unemployed young people has been falling for the last eight months,

David Kern, chief economist at the British Chambers of Commerce, said: 'The figures continue to demonstrate the flexibility and resilience of the jobs market, which is a source of strength for the economy. It is also good news that we are now seeing positive increases in earnings, easing the squeeze on living standards.

'Although there are still some concerns, with youth and long term unemployment particularly high, the recovery is clearly moving ahead.' 

Prime Minister David Cameron said the figures proved Britain is getting back to work after the recession

Prime Minister David Cameron said the figures proved Britain is getting back to work after the recession

Minister for Employment Esther McVey said: 'As the recovery takes hold, more people are able to get a job or set up their own business and become the employers of tomorrow.

'Each and every person who has made a new start or hired someone new is helping to make Britain a more prosperous and confident place to be.

'We will continue to support those in and out of work who want to get on and fulfil their ambitions for a more secure future.'

The number of people out of work for over a year was down by 32,000 to 813,000, with unemployment among 16 to 24-year-olds falling by 48,000 to 868,000, the lowest figure for five years.

Unemployment has fallen by more than 300,000 over the past year, giving jobless rates of 7 per cent for men and 6.4 per cent for women.
Total pay is up by 1.7 per cent, while the CPI rate of inflation is at 1.6 per cent

Total pay is up by 1.7 per cent, while the CPI rate of inflation is at 1.6 per cent

The jobless data came just ahead of the publication of the latest Bank of England quarterly inflation report, which saw the bank sharply sharply revise down its expectations on unemployment, predicting that the rate would fall to 5.9 per cent in two years.

The BoE also forecast GDP to grow by 3.4 per cent this year - unchanged from its previous prediction - but increased the target for next year from 2.7 per cent to 2.9 per cent.

However, the forecast for 2016 has fallen from 2.9 per cent to 2.8 per cent Bank of England governor Mark Carney said: 'The UK economy continues to perform strongly. The economy has started to head back towards normal.'

The BoE's latest forecast could add to expectations that UK interest rates will go up before next year's general election, although offsetting that pressure was the Bank's prediction that inflation will remain at or below its 2 per cent target for the next three years.

Martin Beck, senior economic adviser to the EY ITEM Club said: 'Employment grew by 0.9 per cent in the three months to March, above the estimated 0.8 per cent rise in GDP.

'So it looks like output per worker fell slightly in Q1, but we still anticipate a recovery in productivity and pay growth over the next year.

'Those fearing that the economic recovery will be accompanied by a surge in inflation driven by rapid wage increases look increasingly wide of the mark.'
The number of Romanians and Bulgarians working in the UK is up by almost 26 per cent year-on-year, compared to 1.8 per cent for people born in the UK.
+1

The number of Romanians and Bulgarians working in the UK is up by almost 26 per cent year-on-year, compared to 1.8 per cent for people born in the UK.

The Bank's original version of its forward guidance policy – under which it said it would not think about raising borrowing costs until Britain's jobless rate fell to 7 per cent - was swiftly rendered obsolete by the plunge in unemployment which began last year.

The BoE said in February it expected unemployment would fall to 6.9 percent in the January-March period.

On currency markets, the pound fell back to 1.6781 versus the US dollar, its lowest level since April 29, and also weakened against the euro after the data.

Kathleen Brooks, research director UK EMEA at FOREX.com: 'The market is getting used to better than expected economic news out of the UK, which may be one reason why the pound sold off even though the UK's unemployment rate for March fell to its lowest level since early 2009.

'The most disappointing part of the report was wages,' she added.

'Although headline wage growth is still above CPI, the fact that wages made no headway in March suggests that the recent increase was a flash in the pan, and not the sign of a sustained trend.'

All well and good yes. Makes me a little less terrified of moving back to the UK.


But this is a daily mail article. What really made it post worthy was the last graph on the page.


They're not even pretending to be credible anymore are they. Especially since another big story today was on hardly any Bulgarians and Romanians coming to the UK

[Gups]

Yeah, but that story was on the quarterly change (Q1 2014 v Q4 2013) so the Mail's graph may be correct even if misleading (assuming it is intended to show theat the change in restrictions from 1 January 2014 has made a huge difference).

[Josquius]

Yeah, but that story was on the quarterly change (Q1 2014 v Q4 2013) so the Mail's graph may be correct even if misleading (assuming it is intended to show theat the change in restrictions from 1 January 2014 has made a huge difference).

I don't doubt for a second that it's correct.
However they're playing the "OMG scary immigrants card!" even with this good and unrelated news.
And doing it in such a stupid numbers game way- 2% growth looking much worse than 25% despite it being 2% on 50 million or so vs 25% on 100,00....

[Valmy]

Yeah, but that story was on the quarterly change (Q1 2014 v Q4 2013) so the Mail's graph may be correct even if misleading (assuming it is intended to show theat the change in restrictions from 1 January 2014 has made a huge difference).

Using true facts to tell lies is what politics is all about.

[jimmy olsen]

Britain is 'getting back to work', David Cameron declared today as the number of people in a job soared by the highest figure since records began.

Employment levels rose by 283,000 in the last three months - the largest quarterly increase in 43 years.

That's a huge number, it would the equivalent of 1.415 million jobs in the US.

[The Brain]

Map?

[MadImmortalMan]

More than 30.4million people are now in work - the highest since records began in 1971 - while self-employment has also reached a record high of 4.5million.

So "in work" does not include self-employed? This is specifically measuring the growth of wage slavery? 

[Ideologue]

4.5 million prostitutes must depress prices even more than those awful Chav accents.