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Wednesday, February 20, 2013

Unemployment Down?

According to the Office for National Statistics (ONS) unemployment ahs fallen:
"The unemployment rate was 7.8% of the economically active population, down 0.1 percentage points on July to September 2012 and down 0.6 on a year earlier. There were 2.50 million unemployed people, down 14,000 on July to September 2012 and down 156,000 on a year earlier."
Yet the job market seems to be extremely tight. According to the Guardian, over 1,700 people have applied for eight jobs at a new branch of Costa in Mapperley.

It seems that the apparent fall in those officially unemployed may in fact represent a shift "off balance sheet".

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