The Office of National Statistics (ONS) released figures today that purport to show that the ongoing rise in unemployment is slowing, climbing by a "mere" 30,000 in Q3 of this year to 2.46M ("experts" had been predicting 2.5M).
Doubtless the government and other organisations may well spin this as signs of a recovery. However, before popping the champagne corks, the following needs to be taken into account:
1 There are still 30,00 more people out of work than there were in Q2.
2 ONS figures are notoriously unreliable.
3 Q3 ended two months ago, the figures are not real time and are irrelevant for decision making.
4 The true number of "unemployed" are hidden by government schemes that hold people off the register (eg work experience schemes, creation of "non" universities etc).
The figures are meaningless.