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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (52576)	10/17/2002 5:33:36 AM
From: zonder	Respond to of 281500

I work in the financial markets and where money is concerned, I have no heart. I thank my American education from the ages 8 to 23 for it :)

To: LindyBill who wrote (52576)	10/17/2002 10:03:25 AM
From: jttmab	Respond to of 281500

From the London Times. October 16, 2002 Unemployment falls for third month in a row By PA News Unemployment has fallen for the third month in a row, but thousands of manufacturing jobs continue to be lost every week, official figures showed today. The number of people claiming unemployment-related benefits dropped by 200 last month to 946,000, the second lowest total since 1975. The jobless rate is now 3.1 per cent and the claimant count is 5,800 lower than a year ago, the Office for National Statistics (ONS) reported. Unemployment under the International Labour Organisation (ILO) definition, which counts all people looking for work, fell by 5,000 between June and August to 1,568,000. Average earnings increased by 3.8 per cent in the year to August, down by 0.1 per cent from July because of a reduction in the level of settlements in private firms and the public sector. Earnings grew by 3.9 per cent in private companies and by 3.4 per cent in the public sector, which represents falls of 0.1 per cent and 0.2 per cent respectively for the year to July. There was more gloomy news from manufacturing, where 163,000 jobs were lost in the three months to August. The total number of jobs in the sector has fallen to 3.6 million – a record low. The biggest cuts in recent months were in the electrical and optical equipment sectors, textiles, leather and clothing sectors and the metal products sector. Manufacturing productivity fell by 0.3 per cent in the three months to August compared with a year earlier. The ONS said the trend in the unemployment rate had been increasing slightly over the past year but there continued to be very little change in the number of people claiming unemployment benefit. Meanwhile, the number of people in work increased by 19,000 to 28.5 million between June and August. The total has risen by 211,000 over the past year. In the latest period there was a fall of 72,000 full-time workers and an increase of 91,000 part-time workers. Nick Brown, the Minister for Work, said: "This is an encouraging picture. It is testimony to our sound management of the economy, and my department's active labour market policies that help well over a million people into work each year." John Monks, TUC General Secretary, said: "While today's unemployment figures show that the labour market is flat, there are clear signs that things could easily deteriorate in the coming months unless the Bank of England cuts rates to bolster the UK economy."