Economic news
The following economic Infomation has been supplied by GFK, reporting for July 2010
Some good news!
The number of people unemployed in the UK fell by 34,000 to 2.47m in the
three months to May, official figures show. That took the jobless rate to 7.8%,
the lowest for a year. The fall in the UK jobless rate will raise recovery hopes.
The increase in the levels can partly be explained by a fall in the number of
people classed as economically inactive. This decline - the first in more than a
year - indicates that people are coming back into the job market, either as
workers or job hunters, after a period of not looking for work.
The cost of owning and running a home in the UK has declined by 6% over
the past two years. Between April 2008 and April 2010, the average annual
cost associated with owning and running a home fell by £544 from £9,564 to
£9,020. In real terms (i.e. after allowing for retail price inflation), the cost of
housing has fallen by 9%. Housing costs in the UK are now equivalent to 27%
of gross average full-time earnings, down from 30% in 2008.
Its nice to see some economic progress for once, good news for everyone, long may it continue!
