poppet2 Posted January 22, 2014 Share Posted January 22, 2014 Unemployment takes a sharp fall... down 167,000 http://www.bbc.co.uk/news/business-25841570 Growth forecasts are up sharply... and the IMF eats a little humble pie. http://www.bbc.co.uk/news/business-25823217 Confidence is climbing.. and so is recruitment. http://www.bbc.co.uk/news/business-25830586 Never a mention of it on this forum though. Almost like people want it to be gloomy This is not good news at all. 1. That should mean a rise in interest rates since the economy is doing so well. Bad news for everyone with a mortgage. 2. The unemployed youth have been put on Govt. Training schemes, which means they are not counted as being out if work. 3. So, what with bogus unemployment figures, then the governor of the Bank of England reminding us about interest rates going up, I fail to see the good news. Link to comment Share on other sites More sharing options...
Anna B Posted January 22, 2014 Share Posted January 22, 2014 This is not good news at all. 1. That should mean a rise in interest rates since the economy is doing so well. Bad news for everyone with a mortgage. 2. The unemployed youth have been put on Govt. Training schemes, which means they are not counted as being out if work. 3. So, what with bogus unemployment figures, then the governor of the Bank of England reminding us about interest rates going up, I fail to see the good news. If the figures are genuine we should see interest rates rise. If not they won't go up' Let's see.... (I'm not holding my breath..) Link to comment Share on other sites More sharing options...
truman Posted January 22, 2014 Share Posted January 22, 2014 If the figures are genuine we should see interest rates rise. If not they won't go up' Let's see.... (I'm not holding my breath..) The Governor of the BoE said it was an indicator,not a trigger, for rate rises.. "The minutes say: "Members therefore saw no immediate need to raise bank rate even if the 7 per cent unemployment threshold were to be reached in the near future."" http://www.channel4.com/news/unemployment-falls-interest-rate-rise-mark-carney ---------- Post added 22-01-2014 at 16:06 ---------- This is not good news at all. 1. That should mean a rise in interest rates since the economy is doing so well. Bad news for everyone with a mortgage. 2. The unemployed youth have been put on Govt. Training schemes, which means they are not counted as being out if work. 3. So, what with bogus unemployment figures, then the governor of the Bank of England reminding us about interest rates going up, I fail to see the good news. 1. but good news for savers.. 2 are they being counted as in work? You reckon 170,000 were put on these schemes in the 3 months ending November last? 3. What would you see as good news? Link to comment Share on other sites More sharing options...
Obelix Posted January 22, 2014 Author Share Posted January 22, 2014 If the figures are genuine we should see interest rates rise. You haven't read what Mark Carney said then - unemployment at <7% is a precondition for a rate rise, not a trigger. Link to comment Share on other sites More sharing options...
poppet2 Posted January 22, 2014 Share Posted January 22, 2014 The Governor of the BoE said it was an indicator. 1. but good news for savers.. 2 are they being counted as in work? You reckon 170,000 were put on these schemes in the 3 months ending November last? 3. What would you see as good news? 1. Good news for savers, eh, what a pittance of pennies that banks have the cheek to give us in interest rates. Bread and circuses come to mind. 2. 170,000 is a drop in the ocean, compared to 1 million of our youth out of work. Shops needed youth at Xmas time for free slave labour. 3. Good news would be ending the plans for HS2 and using the money for a nationwide house building scheme where the youth can also gain an apprenticeship in the building trade for 3 years. Link to comment Share on other sites More sharing options...
Supertramp Posted January 22, 2014 Share Posted January 22, 2014 170,000 is a step in the right direction? How much more can you expect? All 2.3million to find a job at once? Link to comment Share on other sites More sharing options...
Manlinose Posted January 22, 2014 Share Posted January 22, 2014 interest rates won't need to rise for as long as CPI inflation is on or around the bank's target of 2% and wage inflation is lower falling unemployment is generally a trigger for increased wage rises, but it's unlikely this will happen in any significant way for a good few months yet and an increase in interest rates may adversely affect the housing market in addition they will have concerns that any rate rise will increase the value of the £ - which is always a double edged sword and i think they would be reluctant to see the value of the £ increase too much they may consider a small increase towards the end of the year to give an indication to the money markets that they are keeping a tight hold on things but i wouldn't expect anything earth shattering unless inflation and wage rises take off Link to comment Share on other sites More sharing options...
poppet2 Posted January 22, 2014 Share Posted January 22, 2014 170,000 is a step in the right direction? How much more can you expect? All 2.3million to find a job at once? Eh! I take it you haven't been reading through this thread then? Read my #51 re. The youth unemployment figures. Link to comment Share on other sites More sharing options...
tinfoilhat Posted January 22, 2014 Share Posted January 22, 2014 This is not good news at all. 1. That should mean a rise in interest rates since the economy is doing so well. Bad news for everyone with a mortgage. 2. The unemployed youth have been put on Govt. Training schemes, which means they are not counted as being out if work. 3. So, what with bogus unemployment figures, then the governor of the Bank of England reminding us about interest rates going up, I fail to see the good news. I'm not sure that's entirely accurate. According to the bbc report I just read, only 1.25m out of 2.5m are claiming jsa so they're obviously including others - but I don't know who. Link to comment Share on other sites More sharing options...
Anna B Posted January 22, 2014 Share Posted January 22, 2014 Employment / Unemployment figures are notoriously fiddled by both Labour and Tories depending on what bias they want to create. Why would anyone believe them? Link to comment Share on other sites More sharing options...
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