The U.K. unemployment rate falls to 8% in Q2, down 0.2 percentage point Q/Q. Consensus was for...


The U.K. unemployment rate falls to 8% in Q2, down 0.2 percentage point Q/Q. Consensus was for 8.1%. The number of people claiming unemployment benefits falls by 5,900 in July to 1.59M, but is up by 35,600 on year. (PR)

Comments (4)
  • User 353732
    , contributor
    Comments (5135) | Send Message
     
    There is little reason to believe that in the Uk the unemployment rate is measured with more integrity than in the US. This official "rate" is a statistical artifact designed to deceive. What ,matters are the labor force participation rate and the dependent to worker ratio: both dismal in much of the West.
    15 Aug 2012, 05:24 AM Reply Like
  • Reel Ken
    , contributor
    Comments (5806) | Send Message
     
    Assuming you are correct that the rate is understated, by design, it really doesn't matter.

     

    You see, it would have also been understated in the past. So even if the current rate is understated, the Q/Q comparison would account for these understatements. That's why Q/Q is the relevant number.

     

    Suggesting we look to "...labor force participation rate and the dependent to worker ratio.." presumes that this is not also manipulated. Again, even so, the Q/Q is what matters.

     

    Analytics easily deals with continual deception, it is only the random lie that fools.
    15 Aug 2012, 06:08 AM Reply Like
  • wenlock00
    , contributor
    Comments (55) | Send Message
     
    Temporary jobs at Olympic games?
    15 Aug 2012, 07:30 AM Reply Like
  • marilyn61
    , contributor
    Comments (173) | Send Message
     
    The reason the unemployment figures have dropped is , as we all know, because of the Olympic Games. During July the number of people claiming jobless benefit fell by 5,900. Also what the statistics are not telling us is the figures for part time unemployment rose. So this was only going to be a temporary improvement as it seems very likely that the next set of figures will show a rise again.
    16 Aug 2012, 04:10 AM Reply Like
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