For June
Provided by: Office of National Statistics

Claimant Count Unempl. Rate: 2.6%, forecast 2.6%, pr. 2.6% (Rev from 2.5%)

The claimant count, the number of workers asking for unemployment benefits, rose by 15K in June. This is the largest jump since 1992, harking back to the last recession. The economic slowdown in the UK has caused claims for unemployment benefits to increase 5 months in a row. Losses were mainly based in construction as the housing market in the UK contracts and in financial companies catering to weaker consumer demand for loans and mortgages. The Bank of England is unable to bring relief in the form of lower rates as the UK battles high inflation.

From the Release: "The trend in the employment rate is increasing, the trend in the unemployment rate is flat and the trend in the inactivity rate is falling. There has been another increase in the number of people claiming Jobseeker's Allowance benefit. The number of job vacancies has fallen. Growth in average earnings, both excluding and including bonuses, has fallen.

The claimant count was 840,100 in June 2008, up 15,500 over the previous month but down 23,100 over the year. The claimant count has increased over the month in all regions of the UK."

For May
Provided by: Office of National Statistics

Claimant Count Unempl. Rate: 2.5% forecast 2.5%, pr. 2.5%

UK's labor market situation is showing weakness as the total claimant count increased for the 4th straight month going up to 819,300. The previous month's figures were revised up significantly as well. Employers feel the pinch from the credit squeeze and has been thining their work force in anticipation of further slowdown in the economy. In the past 3 months initial claimant figures have been revised up and also show an accelerating pace of job cuts.

There is no question that the BoE will have to make moves to prevent a recession, but at the moment, inflation is at the forefront of discussion. By itself, rising prices will cut into consumer spending and sentiments. Businesses will feel the pinch and employment will be pressured. So everything is riding on prices to stabilize, at least that is what the Bank of England and many central banks are thinking.  

For April
Provided by: Office of National Statistics

Claimant Count Unempl. Rate: 2.5%, forecast 2.5%, pr. 2.5%

The number of people claiming unemployment benefits rose by 7,200 in April. Revised data for March and February showed that unemployment rose during those months (11,400 in the last 3 months). It's the first time since June 2006 that the Claimant count was positive for three month, and implies that the UK labor market is starting to loosen. With high inflation the central bank may not be able to lower rates at the pace they wanted in order to counter sputtering growth.

For March
Provided by: Office of National Statistics

From the Release: "The claimant count was 794,300 in March 2008, down 1,200 over the previous month and down 110,600 over the year. This is the lowest figure since June 1975."

For February
Provided by: Office of National Statistics

Unemployment fell for a 17th straight month as the claimant count fell 2,800 from January to a total of 793,500. This is the lowest total since June 1975. Expectations though were for a larger fall of 5,000 for the month. The unemployment rate remained at 5.2%, and average earnings, including bonuses, inched down to 3.7%. Continued strong employment helps the UK economy as consumers have more spending money and better security. Since the economy is feeling pressures from housing and other areas affected by higher credit costs, it is important that consumers are there to counter-balance those negative factors. In any case, growth is expected to slow to a pace of just 1.6% this year. February's change in the claimant count was relatively small and may soon turn positive if the economy's slowdown translates into job losses.  

For January
Official Release from the Office of National Statistics

"There has been a further fall in the number of people claiming Jobseeker's Allowance benefit. The number of job vacancies has increased.

The claimant count was 794,600 in January 2008, down 10,800 over the previous month and down 128,500 over the year. This is the lowest figure since June 1975. The claimant count has now fallen for 16 consecutive months."