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Wednesday, September 15, 2010

Unemployment Rises

The Office for National Statistics (ONS) has reported that the number of people claiming unemployment benefit has risen by 2,300 in August, the first rise since January.

Whilst the rise may seem "small" (unless you are of course one of the 2,300), it goes against the expectations of the "experts" who had predicted a fall of 3,000.

On the face of it, this of course is not good news. However, it kicks in the teeth the nonsense being spouted by some sections of the media recently that within 2 years Britain will be luxuriating in a boom that will drive interest rates up to 8%.

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