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Macro Nugget: Who is lying about UK employment data?

Unemployment rate and claimant count have diverged post Covid
2024-08-14
<a href="https://stenoresearch.com/author/ulriksimmelholt/" target="_self">Ulrik Simmelholt</a>

Ulrik Simmelholt

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Since the pandemic, the claimant count and unemployment rate in the UK have diverged from their historically parallel trends. According to The Office for National Statistics ‘Both series follow similar paths, although they can behave differently in the short-term’. We doubt that short term is > 4 years is short term, and thus the question is: “Which of the two time series is misleading?”

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