The headline unemployment figures are starting to move in the right direction.
And we shouldn't allow welcome falls in
headline unemployment figures to conceal deeper problems in our labour market.
Not exact matches
The November Payrolls was optically strong with
headline job growth at 178,000 vs. 180,000 consensus (two month net revision at -2,000), the U3
unemployment rate declined to 4.6 % vs. 4.9 % expectations, and the U6
figure fell to 9.3 % vs. 9.5 % prior.
This trend of rising
unemployment continued through the last quarter of 2011 and the beginning of 2012, but there were increasing signs of stabilisation in the labour market and by March 2012, although
unemployment showed a rise of 28,000 compared to the previous quarter, this was 5,000 below the
headline figure of the previous month.
«Behind the
headline figures long - term
unemployment actually came down in the quarterly
figures, and very importantly the number of new jobs created in the private sector outstripped the number of jobs lost in the public sector,» Mr Clegg told MPs.
A Labour Party spokesperson said: «Nobody is disputing the
headline figure but p18 of the ONS statistics summary shows that if you compare today's ILO
figures for February - April 2010 with those for January - March 2010
unemployment is down on last month.»
But the way that employment was then measured bears little resemblance to the monthly
figures trumpeted in
headlines now, said Keyssar, author of «Out of Work: The First Century of
Unemployment in Massachusetts.».