CONTRADICTING REPORTS ON UNEMPLOYMENT Update 27 Nov 2018

HOUSE OF COMMONS

UPDATE 27 Nov., 2018
The problem still exists but now PM May claims they reduced unemployment. In my opinion, the reduction is mainly done by forcing people to accept Zero-Hours-Contracts.

In the South it is possible to find work under these contracts but in the Midland and North, where unemployment is widely spread, it has been reported that people are called for a job and when they arrived it is either already filled or there is just one or a few hours work. Results, they lost their benefits and have no or hardly any money. Foodbank increasing in a alarming rate. 

That's now the situation and it increases daily, even in the South which is always better off. No matter how much the press screaming from headlines, even Church leaders complaining and all the facts of death, suicides, homelessness show the crisis; May and her Tories ignore it.
  

It is widely known that many people struggling to make ends meet.  They either unemployed altogether or underemployed meaning they only can get part time work. This situation has now reached past three million marks since David Cameron came to power.  Certainly not a record to be proud of.

As of today underemployment increased by 330,000 when compared with 2010 records at the same time. It counts for a 10 per cent of the people and most of them have families to support.  The House of Commons figures show that 200,000 increased to 1.2 million parents fighting every day to make ends meet.

At the same time wages squeeze were introduced and it is assumed incomes will be down by £7,000 by the time the next general election which will be lower than when Labour Gordon Brown was in power in 2010.

There is no doubt that the coalition, mainly the Tories, have ruined the recovery. When Gordon Brown had to hand over the GDP was 1.5 per cent and Cameron can’t deny this. Within three months it has vanished.

How can he still blame Labour is any ones guess?  All the record show that the Tories hammered the families and the rich had received a tax cut.

Yesterday, the new governor of the Bank of England Mark Carney has laid out his intention to recover the British economy. In his speech he spoke of a 7.8 per cent unemployment and stated that the historical low interest rate of 0.5 per cent will stay until the unemployment will drop below seven per cent.  Now this is a worrying factor because there is a hint of increasing the interest rate and also statistics can be fiddle about.

Furthermore, the House of Commons states 10 per cent unemployment.

He also pointed out to encourage growth he made a great point of taking out mortgages or business loans to make use of the low interest rates.  There is no doubt the temptation is there but it also could be a great financial trap because when the interest rates do rise people will be stuck.  It happen before the so called "credit crunch" which was nothing but artificially produced by the top financiers because the ordinary man started to have a good life and it had to be cut down.  Already the Help to Buy plan made the house prices rise which does not help the first time buyers.  At the same time there are no definite plans to built new houses which would start the economy and bring the house prices down.

Summarizing up his speech Mr  Carney said he does not think the interest rates will rise from 0.5 per cent in the next three years.  Is he hinting that there will be no great economical improvement for the general public?  It seems all a bit a murky forecast.