Fall in jobless set to boost incoming Bank Governor
Sunday 09 June 2013
Signs of recovery in the jobs market will add more fuel to hopes of an economic revival this week even as workers' salaries fail to keep pace with inflation.
Economists predict a 5,500 fall in jobseeker's allowance claimants last month, taking the total number of people on the dole to a two-year low of 1.51 million in May. Headline unemployment is expected to stay close to the current 2.52 million in the quarter to April, but experimental monthly figures compiled by the Office for National Statistics signal much stronger recent improvement in the labour market.
The numbers suggest that unemployment stood at 2.61 million in January, but fell to 2.37 million in March – much lower than the 2.52 million average for the first three months of the year.
This could bring the jobless rate below the current 7.8 per cent, according to Investec chief economist Philip Shaw. He said: "Last month's drop in the unemployment rate was a welcome surprise. Positive economic momentum may result in still better numbers this time."
The green shoots follow signs of faster growth from services, manufacturing and building firms in May, and recovering high street spending – dampening expectations that the incoming Bank of England Governor, Mark Carney, will seek to add more stimulus when taking over next month.
- 1 Expert urges cat lovers to own just one animal each
- 2 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 3 The Simpsons death: Creator Al Jean would 'kill himself' before character like Homer or Lisa
- 4 British man raped while urinating in bushes at Oktoberfest beer festival in Germany
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Expert urges cat lovers to own just one animal each
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
British man raped while urinating in bushes at Oktoberfest beer festival in Germany
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
'Women, walk wherever you want' posters taken down in Stamford Hill following 'unacceptable' signs separating men and women
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Should gay sex be illegal? 16% of Britons think so
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...