Commenting on the trade statistics for September, released today by the ONS, Mike Spicer, Director of Research Economics at the British Chambers of Commerce (BCC), said:
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Commenting on the trade statistics for September, released today by the ONS, Mike Spicer, Director of Research Economics at the British Chambers of Commerce (BCC), said:
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- Retail sales volumes for August 2013: down 0.9% on the month; up 2.1% on the year
- The August fall comes after a strong increase in July, and the trend in sales remains clearly upward, with an increase of 1.7% in the three months to August, compared with the previous three months
- Annual inflation in the retail sector slowed from 1.8% in July 2013 to 1.6% in August 2013
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- In the three months to July 2013, unemployment fell 24,000, and employment rose 80,000, compared with the previous quarter
- In the three months to July 2013, the unemployment rate was 7.7%, down slightly from 7.8%
- Youth unemployment (16-24 year olds) rose 9,000 to 960,000, and the unemployment rate in this age group was 21%
- Between March and June 2013, public sector employment fell 34,000, and private sector employment rose 114,000
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- In the three months to June 2013, unemployment fell by 4,000, and employment rose by 69,000, compared with the previous quarter
- Long term unemployment is up, with further increases in the number of those unemployed for more than one year and two years
- Youth unemployment has risen by 15,000 in the three months to June, and now stands at 973,000
- In July 2013 the claimant count fell by 29,200, compared with June