Reposted from Vox Political
Excellent post from Mike Sivier at Vox Political about the drop in the unemployment figures that the BBC have been reguritating all day!
Read more here
Now … do you remember, about a year ago, that Mark Carney the Governer of the Bank of England said he would increase the interest rate when unemployment dropped to 7.1% or below … well it’s below that now!
The “financial experts” (I use the term loosely) that the BBC trolley in to state the party line are at pains to point out that people don’t have to worry about their mortgages because the interest rate will only go up by a “very small amount” probably next year.
BOLLOCKS (and big fat hairy ones at that)
Carney knows he can’t put the interest rates up because the unemployment figures are false; more people may be in “employment” but if you scratch below the surface, you will see that the rise is almost entirely due to;
Low paid, minimum wage unskilled jobs (the BBC tory mouthpeice say this is because there are more young people in employment … yeah whatever)
Self employment – people forced into this by DWP to get them off ESA/JSA with no thought to the tax consequences for those individuals coerced into this
People mandated to work programmes – win/win situation for the “employer” here; no wages paid (therefore no tax and/or national insurance paid) as the claimant still gets JSA. The workfare provider receives a fee from the government and the tories can crow about how the unemployment figures are falling.
Benefit sanctions – that’s right…DWP santion claimants for the most spurious of reasons (didn’t look for a job Christmas Day … I kid you not) for a minimum period of 4 weeks for a first offence and they are then removed from the unemployment figures.