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Posts Tagged ‘economy’

It’s official – the weather has ‘no effect on retail sales’,

Thursday, January 23rd, 2014

Analysis by the Office of National Statistics found there is no connection between the weather and retail sales figures.

By Piper Terrett | Yahoo Finance UK – Thu, Jan 16, 2014 16:59 GMT

Like train companies blaming delays on ‘the wrong kind of leaves on the line’, it’s long been a running joke in the City that poorly-performing retailers blame their disappointing sales figures on everything from rain and snow to too much sunshine.

But new data from government boffins suggests that this really is a fallacy. A paper released this week by the Office of National Statistics (ONS) which looks at the relationship between retail sales figures and the weather over the past ten years concludes that there is no real connection between weather patterns and sales.

The ONS compared retail sales data since 2003 with average UK monthly temperatures – periods which included severe weather events such as the flooding in July 2007 and November 2012 and heavy snow in December 2010.

However, statisticians found that in most cases the weather had little or no effect on retail sales.  For example, in June to September 2006, average temperatures were around 1.9°C higher than normal but retail sales remained stable. Yet in July 2013, when temperatures were 2.1°C above average, there was a substantial increase in sales.

Similarly, although heavy rain led to widespread flooding in parts of the UK in 2012, retail sales actually rose while falling in October and December.

“In terms then of the retail sector’s sensitivity to the weather, past periods show a mixed picture with no clear relationship between the two,” said officials.  

Only severe weather events which continued for some time, such as the heavy snowfall in December 2010, were found to have any substantial effect on the UK economy.

“Only sustained extreme weather conditions can have a substantial impact upon the UK economy as a whole,” said the ONS. “The only weather event in recent years to be designated as a statistical special event by ONS was the widespread heavy snow and extremely low temperatures in December 2010.”

However, Sam Hart, retail analyst at Charles Stanley, thinks this doesn’t paint a fair picture of the sector.
“Possibly overall [the weather] doesn’t have a huge impact on retail sales but clothing retailers can be impacted by unseasonable weather,” he told Yahoo Finance UK.

File photo dated 31/03/13 of a cyclist taking a route alongside large snow drifts on the …“They generally like a spell of cold weather in the autumn that gets customers buying. Last autumn was unseasonably warm and that impacted sales.

“You generally find that in good summer weather electrical goods retailers will be affected because, rather than spend time in their stores, people will tend to do things outside.

“Obviously with the the DIY retailers, a lot of their products can be seasonal, such as barbecues and garden plants. Then there’s the food retailers that may have benefited from the good weather in the summer.

“People want to eat fresh produce and a lot of that food tends to be slightly higher margin. But it’s quite difficult to generalise. It’s incredibly company specific.”

 taken from—the-weather-has–no-effect-on-retail-sales—says-government-statisticians-165920987.html wher you can fin a video too to work on your listening skills

A quarter of 20-somethings now live at home

Thursday, January 23rd, 2014

Thanks to the economic crisis more young people live at home

Yahoo Finance UK

By | Yahoo Finance UK – Tue, Jan 21, 2014 17:42 GMT

  • More yong people are living at home

    Yahoo Finance UK/Rex Features – More yong people are living at home

  • Yahoo Finance UK – Thu, Jan 16, 2014 11:35 GMT

The economic crisis has had a significant and lasting effect on the lives of young people, as more than one in four now live with their parents, according to official data.   The number of 20-34 year-olds in their family home has jumped by 669,000 since 1996, the Office for National Statistics has found.
This is despite the number of people in this section of the population remaining largely the same. There are now 3.3 million living with their parents, up from 2.7 million in 1996.
The highest increase has been among 20-24 year-olds – especially in the last five years. In 2008, 42% of 20 to 24-year-olds lived with their parents, but by last year the percentage had increased to 49%.
It’s thought that the economic crisis is a large underlying factor, as the number of unemployed people aged 18-24 has increased from 13% to 19% during the same five years. 

Young adults aged 20-34 living with parents in the UK, 1996-2013 (ONS)
Economic activity of those aged 20-34, UK, 2013 (ONS)

Young men are far more likely to live with their parents, with one in three staying put, compared with one in five women.
However, this is not because young women have greater economic success, but because they are more likely to be in a relationship and living with their older partner or because they are a lone parent.
In fact, 600,000 more women aged 20-34 were found to be living as part of a couple than men, and on average women are more likely to have a relationship with a man older than themselves, according to the ONS.
There were nearly as many women who were lone parents in their own household. And it was also found that women are more likely to be in higher education, in the process leaving their parent’s home.

Men and women aged 20-34 living with parents, UK, 2013 (ONS)
Young adults aged 20-34 living with parents by region, 2011-2013 (ONS)

In spite of the huge cost of either buying or renting in London, it has the lowest percentage of young adults living with their parents at 22%. Mainly because the capital has a large influx of young people moving from other areas for work or study, said the ONS.
On the other hand, the region with the highest number of young people living with their parents was found to be Northern Ireland.
This is because it’s easier to commute to work or university from the family home. And because cohabitation among couples is much lower – even though the average age for a first marriage in Northern Ireland is lower than in England and Wales.
This suggests a more traditional picture of family life, where the time between leaving home to marry or cohabit is shorter than elsewhere, said the ONS.

+ VIDEO to watch here at the end of the original article

Black Friday

Saturday, November 30th, 2013
YouTube Preview Image YouTube Preview Image

Obama’s Balance Sheet

Friday, October 19th, 2012

This is the powerpoint used by Amirdine and Nabil

power point obama result

And the band played on …

Tuesday, April 17th, 2012

Titanic cartoon

The parallel with the current economic crisis is obvious—there will be survivors and victims (and a disproportionate number of these will be from the lower classes).

More generally, the idea of the ship colliding with an iceberg or the sinking ship are commonly used as metaphors for disaster, the iceberg as a metaphor for the cause of a catastrophe, and the lifeboat as a metaphor for rescue.

How will the bail-out affect Northern Ireland?

Monday, November 22nd, 2010

watch this video


For the Unemployed Over 50, Fears of Never Working Again

Monday, September 27th, 2010

un article du NY Times sur l’emploi des séniors et plus précisément sur le chomâge des seniors aux USA.

Happy Talk: The Economics of Happiness

Friday, January 8th, 2010

read more about it here


present economy / l’économie du cadeau

Friday, January 8th, 2010

a great graph here

I hope you were spoilt for Xmas !

250,000 Irish workers go on strike

Sunday, December 6th, 2009

Up to a quarter of a million public sector workers have taken part in a national strike in the Republic of Ireland.

Civil servants, some medical staff and teachers are protesting at government plans to cut the public sector pay bill by 1.3bn euros next year.

They say they cannot take any more cuts in their wages after an emergency budget earlier this year.

Almost all public offices and schools were closed.

Hospital appointments for up to 16,000 patients were cancelled.

Thousands of people also faced delays in social security payments.

Irish police have said that no speeding fines will be issued because of the strike.

Trade unions said the government had refused to engage with them on ways of cutting the state pay and pensions bill by 1.3bn euros without cutting pay, pensions or services.

They said the government had forced the action by failing to negotiate a fair alternative to plans for a second huge pay cut this year.

However, a number of unions have deferred strike action in areas affected by recent floods.

The strike affected a wide range of the public sector:

  • A majority of civil service employees took part;
  • A limited customs service is running at ports and airports;
  • Prison officers have been striking for an hour at different times – prisoners are being locked in their cells during the action;
  • Emergency cover being provided by fire and water services;
  • Most local authorities staff are on strike but staff at flood-hit areas are still working;
  • Hospital staffing is at Christmas Day levels – only “genuine emergency” cases advised to show up at A&E departments, hospital appointments are being deferred and non-emergency procedures postponed, although strike exemptions were granted to key areas including palliative and intensive care;
  • Police are forbidden by law to strike but members of the Association of Garda Sergeants and Inspectors have been instructed not to make themselves available for overtime; and,
  • More than 50,000 teachers are on strike.

taken from :