The number of British workers claiming jobless benefits rose by 24,400 in August to a total of 1.61 million, the Office for National Statistics reported Wednesday. The increase exceeded forecasts for a rise of 20,450. The unemployment rate, when calculated according to International Labor Organization standards, rose to 7.9% in the three months to July, up from 7.2% in the previous three months. The unemployment level rose by 210,000 to 2.47 million during the period, the ONS said. Average earning excluding bonuses rose at an annual pace of 2.2% in the three months to July, the lowest rise since comparable records began in 2001. Including bonuses, earnings rose 1.7%. http://www.marketwatch.com/story/uk-jobless-claims-see-august-rise-2009-09-16
Better than expected, expected was 25K and 8%. However average earnings were up less than expected. UK is up over 1% http://www.forexpeacearmy.com/forex_news_calendar/
*smacks head on table* This is what happens when you only bailout the banks and the big corporations. Corporatism ftw.
unemployment is one thing, I believe it is calculated on the basis of people checking in to Job Centres/applying for benefits. what about employment? What about people that do not declare themselves unemployed by not checking in? I know a lot of bankers that lost their jobs that didn't bother declaring themselves unemployed. Are there any figures showing the net change in employment?