While the government points to the fall in unemployment by 4,000 to 2.51 million between April and June (Office for National Statistics) as evidence for the successes of austerity, this view is barely skin deep.
- The unemployment rate holds fast at 7.8% -- essentially more people in work is just a symptom of a growing population. In reality, the jobs market is stationary: just about keeping up with new entrants. (ONS)
- All else being equal, the people that need most help getting a job are young people and those in long term unemployment. Yet unemployment actually rose in both groups by 10,000 and 15,000 respectively. Yet another indication that the gap between the 'haves' and the 'have nots' is widening. (ONS)
- Even for those that have work, real wages are still declining: average wages (including bonuses) averaged a 2.1% increase between April and June, while CPI for June shows that the cost of living increased by 2.9%. (ONS)
- The unemployment rate holds fast at 7.8% -- essentially more people in work is just a symptom of a growing population. In reality, the jobs market is stationary: just about keeping up with new entrants. (ONS)
- All else being equal, the people that need most help getting a job are young people and those in long term unemployment. Yet unemployment actually rose in both groups by 10,000 and 15,000 respectively. Yet another indication that the gap between the 'haves' and the 'have nots' is widening. (ONS)
- Even for those that have work, real wages are still declining: average wages (including bonuses) averaged a 2.1% increase between April and June, while CPI for June shows that the cost of living increased by 2.9%. (ONS)
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