UK unemployment

[chris83]

Hi,

I read today that the UK unemployment was on a all time high, what will this do to GBP?

 

[Mr10%]

lol?

 

[Trader333]

It is at an all time high but in my view it is a lot higher than is being published. I think it is nearer to 6 million when all the pathetic training schemes and other ways the government use to not include certain categories are factored in. For example there are over 25% of all 18 to 24 year olds out of work which is at least 1 million. I lived through the Thatcher years when unemployment was at 3 million and I have never known so many people who cannot get work as is the case now.


Paul

 

[Technically Fundamental]

All of these unemployment figures are doctored beyond belief. I can't be ar5ed going into it now but I spent a day researching figures a couple of weeks ago and there's absolutely zero consistency in their year on year comparisons. At least the ones they announce anyway.

 

[zambuck]

Lies, damned lies, and statistics.........Benjamin Disraeli

There are three kinds of lies: lies, damned lies, and statistics..........Mark Twain

...Both Maggie, in her days and Labour now have perfected this to art form....

....Yes there are more numbers 'looking for work' than stated....!!..and not all technically are 'unemployed'....!

 

[zambuck]

.....In many a years we will have a 'burger selling a bugger' economy....

....From a nation of 'shopkeepers' we will evolve into a 'greasy spoon outlet' selling **** all to anyone and everyone....

...Unless we learn to compete with Chinese and Indians, we will be doomed....!!

 

[gamma]

.....In many a years we will have a 'burger selling a bugger' economy....

....From a nation of 'shopkeepers' we will evolve into a 'greasy spoon outlet' selling **** all to anyone and everyone....

...Unless we learn to compete with Chinese and Indians, we will be doomed....!!

That is not going to be easy

 

[zambuck]

....easy way will be to keep sailing as we are......and hope for the best...

 

[Trader333]

The US have started putting heavy import taxes on Chinese goods and the EU could easily start doing the same. This could slow down the onslaught of many of the new emerging economies in my view.


Paul

 

[zambuck]

....Let's see the reaction of mob when they find that their flat screen LED is going to be £5000/-....or MacBook Pro £ 4000/-....or Jeans will be £200/- because it will be made in US, UK and EEC.....

....When unemployment will hit the West along with these duties....applied for Political appeaement....the outcome will be street riots......

....Natives will be restless...!

 

[Trader333]

I don't agree at all, The French in particular have been very effective at protecting their own industries and the EU was created largely to protect its member countries. If deemed necessary they will take action to make the EU a protectionist zone and are already talking about how this can be implemented.


Paul

 

[Technically Fundamental]

Don't worry I'll show you what to do. Spent years learning from the prev generation.

 

[zambuck]

I don't agree at all, The French in particular have been very effective at protecting their own industries and the EU was created largely to protect its member countries. If deemed necessary they will take action to make the EU a protectionist zone and are already talking about how this can be implemented.


Paul

.....Let's see what happens in next 5 years time....

....We will soon know if UK will protect it's car industry against Germany...and other imports from around the world...

....The whole UK car industry has been decimated, while cheap imports have been flooding in....

....So far EC member states have not been able to protect against the cheap imports from abroad and neither against each other....

...UK in particular will suffer the most as it is sitting on a highly inflated currency, while importing everything...!

 

[Trader333]

The UK has no car industry, it was ruined by exactly what you have just said. The UK has not been protectionist in the past but it is now part of the EU and legislation can come in to tax heavily any imports into the EU. If you think this wont happen just watch France and Germany push for it and especially if the US does the same which it has already started to do.


Paul

 

[TheBramble]

To respond to OPS question – we’ll do what the US is doing.

They have had 2.4 Million additional join the unemployed in the last 3 months. More than did so during the bust in entire period of 2001-02.

But it’s still be hyped up as OK.

We’ll do the same.

No impact on GBP. In these circumstances

What should it be? Fairly negative on a fundamental basis. Fewer jobs = fewer products and services = fewer exports = less demand for GBP.

But that’s just in reality land…

 

[Black Swan]

it's far worse than stated and according to the ONS only 73% of those considered economically active are so, perhaps the real level of unemployment is 27%...

Also Nu Lab have created 1.5mil public service jobs since coming to office and have encouraged an extra 1 million into the student population. Add to that the legions of Moms doing 2 part time jobs to keep the wolf at the door and you get a far better picture...

Nu Lab are in a v. difficult position atm, they know they have to slash the public finance bill but can't as the only way to do it is to lose 700,000 jobs, slashing the paper clip bill or cutting expenses, or the company car leasing schemes for the infinite diversity quangos won't be enough, they have to sack close on a million in order to punch a big hole through the deficit.

Those jobs/votes will be there's to lose. Mandy & Gordon will do anything to keep hold of power...gonna get v. ugly in UK plc over the next five years IMHO...

 

[Black Swan]

....Let's see the reaction of mob when they find that their flat screen LED is going to be £5000/-....or MacBook Pro £ 4000/-....or Jeans will be £200/- because it will be made in US, UK and EEC.....

....When unemployment will hit the West along with these duties....applied for Political appeaement....the outcome will be street riots......

....Natives will be restless...!

Can't agree with you there, we're all far too sensible in Europe. Petrol 2 quid a litre? Folk will just shrug their shoulders and pay for it and plod off to work...the govt and the powers behind them have encouraged such a debt slave culture they don't need draconian laws, middle England folk will do anything to keep the status quo, they're petrified. Look how radiant they've been over recent months believing that house prices have stabilised...

The state is so big and the police state equally that if you called a riot only a handful would turn up, those thousands of laws passed under Blair's premiership were done for a reason...

 

[zambuck]

....Riots or public discord do not occur by invitation.....It is boiling over of a simmering issues that comes out in open....

....The issues that are simmering are:

....Banks cocked it up...
....Politicians bailed out the Banks by using Public money...
....Politicians have awarded themselves handsomely....While treating Public like idiots....
....Bonuses in Banks have continued...
....Bosses have awarded themselves 11.5% raise in this year...
....Banks are charging 4-5% for mortgage rates....when base rates are 0.5%...
....Young people seeking mortgage are being turned away by Banks...
....Politicians are now seeking to adress the crisis by cutting down on every services....

...If you remember 70's and oil issue.....and the student riots by young in every major country...France....UK...India and many others...

....One will have to be very 'mentally dead' if they will not react to these issues....

...I hope I am wrong, but issues are very serious and alarming....

 

[Atilla]

....Riots or public discord do not occur by invitation.....It is boining over of a simmering issues that comes out in open....

....The issues that are simmering are:

....Banks cocked it up...
....Politicians bailed out the Banks by using Public money...
....Politicians have awarded themselves handsomely....While treating Public like idiots....
....Bonuses in Banks have continued...
....Bosses have awarded themselves 11.5% raise in this year...
....Banks are charging 4-5% for mortgage rates....when base rates are 0.5%...
....Young people seeking mortgage are being turned away by Banks...
....Politicians are now seeking to adress the crisis by cutting down on every services....

...If you remember 70's and oil issue.....and the student riots by young in every major country...France....UK...India and many others...

....One will have to be very 'mentally dead' if they will not react to these issues....

...I hope I am wrong, but issues are very serious and alarming....

I concur with this opinion. Poll Tax got changed by people power and when push comes to shove politicians will know where and when to get off. In fact Tory party even got rid of its so called greated asset Thatcher when they knew the lady lost the plot.

To talk of integrity and honour amongts bunch of crooks is a joke.

The talk down the pub between old colleagues is how to borrow without paying it back. That's what I would do too. In fact I reckon quite a few pensioners will be going down this way sooner or later. Fair game imo.

What's the government or police going to do to elderly bodies when they let crooks walk free. I hear you get fed better and looked after proper inside then you do outside.

I for one will not hesitate to take from the banks in due course if I'm ever broke. Go in front of the judge like the bleeding politicians and declare - 'sorry mi lard I had a lapse of judgement... will not happen again'.


I think under desperate situations human behaviour becomes very difficult to predict. It often tends towards phsyical survival no less than animalistic behaviour.