Provisional estimates have revealed Spain’s economy grew 0.2% in the fourth quarter of 2010. However, the economy contracted 0.1% during 2010, the National Statistics Institute (INE) said today. The news is a further blow to the economy which has the highest unemployment rate in the industrialised world – at more than 20%. The country has [...]
Figures today revealed Australia’s unemployment rate held steady at the 5% mark in January – despite the recent flooding which has affected farming and mining. According to the Australian Bureau of Statistics, the economy created 24,000 jobs in January. The Bureau comments: “Due to flooding in Queensland, operational difficulties were experienced in conducting the Labour [...]
The European Union’s statistics agency has today announced the unemployment rate in the 17-member euro zone remained stuck at 10% in December. According to Eurostat, 15.7 million people were unemployed in the euro zone during the month. Unemployment remains high in Spain – at above the 20% mark – but continues to fall in Germany, [...]
According to estimates, Taiwan’s economy expanded at a rate of 10.47% in the 2010 year – the fastest pace in more than two decades. The Directorate General of Budget, Accounting and Statistics (DGBAS) said the growth was the best performance since 1987. However, the Statistics office warned that the figure for the next 12 months [...]
The national statistics institute INE today announced the unemployment rate in Spain is at the highest level since the second quarter of 1997. Spain, which has the highest unemployment rate in the EU, has been hit by a severe slump within its key construction industry, which has led to a significant amount of job losses. [...]
A survey by Aldermore, the banking group, has revealed the recent VAT hike will hurt small and medium sized enterprises (SMEs). According to the survey, around 35% of Britain’s SMEs said the new rate, from 17.5% to 20%, will put a strain on their cash flow and they will need extra funding to cope with [...]
The Office for National Statistics (ONS) has today revealed UK unemployment rose in the three months to November. The ONS said unemployment grew by 49,000 in the three month period to 2.498 million. The latest figures means the unemployment rate is unchanged from last month at 7.9% – in line with forecasts. In the meantime, [...]
Influential think tank, the Organisation for Economic Co-operation and Development (OECD), has today reported the number of unemployed in the 33-member OECD countries stood at 45.8 million in November. The figure was down 0.3 million from November 2009 but almost 16 million higher than in November 2007. The unemployment rate held steady at 8.6% in [...]
The Labor Department has revealed the unemployment rate in the US has fallen from 9.8% to 9.4% in December – representing the biggest one month drop since April 1998. The US economic recovery has been stuttering of late due to stubbornly high unemployment. According to the Labor Department, just over 100,000 jobs were created in [...]
The labour ministry today announced unemployment fell in Spain in December. Spain, which has the highest unemployment rate in the EU, has been hit by a severe slump within its key construction industry, which has led to a significant amount of job losses. Growth in the economy, which is Europe’s fifth-biggest, declined for seven consecutive [...]
The Office for National Statistics (ONS) has today revealed UK unemployment rose in the three months to October. The ONS said unemployment grew by 35,000 in the three month period to just over 2.5 million. The latest figures takes the unemployment rate to an unexpected 7.9% – for the first time in six months. In [...]
The Federal Reserve’s policy-setting arm, the FOMC, elected to keep interest rates on hold between 0% and 0.25% – a move which was widely expected. The Federal Open Market Committee also reaffirmed its commitment to buy $600 million in Government bonds – a policy which was branded “QE2“ (quantitative easing) and designed to boost the [...]
There are continued fears for the strength of the US economic recovery today after the jobs market fails to improve. The Labor Department revealed the unemployment rate rose to 9.8% in November – the highest level since April. The rate has now exceeded the 9% mark since May 2009. The US economy added just 39,000 [...]
The Federal Labour Agency has today announced Germany’s unemployment rate remained at 7% in November. However, the jobless total fell by 14,000 to 2.931 million, down from 2.945 million the previous month. The number of unemployed continues to remain below the crucial three million mark – boosted by a combination of Government measures and reforms. [...]
The Office for National Statistics (ONS) has today revealed UK unemployment dipped in the three months to September. The ONS said unemployment fell by 9,000 in the three month period to an almost unchanged reading of 2.448 million. The latest figures means the unemployment rate held steady at 7.7%. In the meantime, the number of [...]
The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate for October tomorrow morning, with analysts expecting the annual rate to hold steady at 3.1%. With inflation way above the 2% target, the Governor of the Bank of England, Mervyn King, will be forced to write a letter to Chancellor George [...]
The Labor Department has revealed the world’s largest economy added 151,000 new jobs last month. The news was gratefully received after concerns of a sluggish recovery, which led the Federal Reserve to introduce a fresh round of stimulus this week. However, the latest figures means the unemployment rate continues to hold steady at 9.6% – [...]
Spain’s statistics office has revealed that the country’s unemployment rate has finally fallen – to 19.8% in the July-September period. It was the first fall in unemployment in three years but the rate still remains the highest in Europe. Spain’s jobless rate is almost double the 10% for the euro zone as a whole with [...]
The Federal Labour Agency has today announced Germany’s unemployment rate fell in October to 7%, from 7.2% the previous month. The number of unemployed, meanwhile, has fallen below the three million mark – boosted by a combination of Government measures and reforms. Germany’s job market is much stronger than in many other countries and many [...]
The Office for National Statistics (ONS) has today revealed UK unemployment dipped in the three months to August. The ONS said unemployment fell by 20,000 in the three month period to 2.448 million. The latest figures means the unemployment rate dipped from 7.8% to 7.7% – the lowest rate since May 2009. In the meantime, [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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