The Jamary issue. of the Treasury's Bulletin for Industry contains the followir following table of figures, which reveal the actual extent of the rise in unemployment. It also has a preamble which mst be the understatement of this, 1 or any other,year. Apparently, or s9 we are told, the sharp rise in-vnemployment is dues to “unfavourable seagonal factors and sluggish demands " Ths figures, however, are more revealing: (The figures are in thousands. ) 1962. Normal Seasonal Change - Actual Chenge - Difference, Dec, to Jan, 40 up. 54 ups J4 ps May to June, 33 dom. 2 up. EP Alpe Sept. to Oot. 26 UD. 49 upd) 23 Atps Cot. to ov. LS Ups 42 ups 24 Up. Nov, to Dec, 1 down, 2? un. 2} Ube = Thus;—
Dec, to Jan. 40 wp. 249 ups 209 up.
The table doses not take into account schowl-learsrs who are unemployed, What the figures do show quite clearly is the rise in “hari ore" unemployment has been maintained throughout 1962,
In conclusion the item examines Britain's ec2nomy in the following terms; "Recent information removes the previous impression of a rise in total demand and production since the middle of 1962, U.K. erports, which rose rapidy in the first half of lant year, changed little in the second half. The only sector of domestic demend which are clearly .rowing are publie oxpenditura( both capital and current) and private investment in housing.( our omphasis ) The index of industrial production for the 3 months September to November was between $ and 1 percent below the previous month. Measures to stimulate the economy already announced, . . include the release of an additicnal £Acn. of post-war credits. « « reduction of purchase toc on. ltons provisusly chargod at 45 por cent to 25 per cent, at a cost of £1825,, of which the most important item was cars;... "