The number of people receiving unemployment benefits rose 2,400 to 1.46 million, the Office for National Statistics in London said today. The median of 25 forecasts in a Bloomberg News survey was for a drop of 3,000. Unemployment based on International Labour Organization methods rose by 44,000 in the fourth quarter to 2.49 million.
Prime Minister David Cameron is counting on hiring at private companies at a time when his government embarks on budget cuts that will cost 330,000 public-sector jobs over the next four years. Bank of England Governor Mervyn King presents new economic forecasts today as soaring inflation sharpens divisions among policy makers over whether to raise interest rates.
Note EU-Digest: Most countries in Europe which copied more opportunist US style economic policies, including Britain, Ireland, Spain, Italy and some Eastern European nations, to solve their problems as a result of the economic crises, are today suffering more than those which opted for austerity measures, and fiscally responsible economic corrective measures. Greece in this respect does not fit any of these categories, because it is presently trying, with great difficulty, to turn the page from an historically structurally flawed economic and social system to a more responsible one.
Optimistic economic news coming out of America from the financial industry controlled press should also be taken with a grain of salt. Reading between the lines of these optimistic reports the figures show that the so-called "real" unemployment number in the US-- which takes into account a broad swath of the working-age population -- remains above 16 percent. The US Department of Commerce also reported last week that the trade deficit increased 5.9 percent in December to $40.6 billion regardless of the fact that exports increased. The US Debt now amounts to more than 14 trillion dollars. Not since World War II has the federal budget deficit made up such a big chunk of the U.S. economy. And within two or three years, economists fear the result could be sharply higher interest rates that could cause a domino effect of economic bad tidings..
For more: U.K. January Unemployment Claims Unexpectedly Rise - Businessweek
Optimistic economic news coming out of America from the financial industry controlled press should also be taken with a grain of salt. Reading between the lines of these optimistic reports the figures show that the so-called "real" unemployment number in the US-- which takes into account a broad swath of the working-age population -- remains above 16 percent. The US Department of Commerce also reported last week that the trade deficit increased 5.9 percent in December to $40.6 billion regardless of the fact that exports increased. The US Debt now amounts to more than 14 trillion dollars. Not since World War II has the federal budget deficit made up such a big chunk of the U.S. economy. And within two or three years, economists fear the result could be sharply higher interest rates that could cause a domino effect of economic bad tidings..
No comments:
Post a Comment