UNEMPLOYMENT

Grey River Argus, 9 February 1938, Page 5

UNEMPLOYMENT

LARGE INCREASE

Continues in Britain [Aus. & N.Z. Cable Assn.] (Received February 8, 8.30 p.m.) LONDON, February 8. The latest unemployment figures for Britain disclose that the total includes an increase of nearly thirtynine thousand unemployed boys and girls. This increase in juvenile unemployment is partly attributable to the fact that a large number of juveniles have recently left school. The latest total of the unemployed, covering the month of January, shows the highest monthly increase for two years, except that for the month of December last. The latest figures bring the total increase in the unemployed since last September to 518,182.

London Share Market

IN SLUMPY STATE. LONDON, February 7. The new account brought no improvement to the Stock Market. Dealings were more restricted, owing to the uncertain political outlook. Evidence of the apathy which hangs over all sections of the market is afforded by the number of bargains marked on stock exchange lists. These have averaged between 5,500 and 7.500 daily during the last few weeks, compared with 10,000 to 12,000 for the corresponding days of last year. It was a quiet and depressing week in the commodity markets, and left prices little changed. Metals staged a minor rally on Tuesday and Wednesday, but have since fallen with Wall Street. Sugar was quoted at its lowest price for more than a year, owing to poor demand from refiners. The feeling of the markets is negatively rather than positively bearish. The technical situation does not suggest that any new slide in values is imminent, but it will require a recovery on Wall Street before a definite reversal of the recent easing trend is possible. Everything suggests that activity in the nex few week will be confined to gilt-edged and gold shares but these are uncertain at times. Even the week-to-wek outlook is obscure. Iron, coal, and steel shares apepear to have definitely fallen from grace, and other industrials are quiet.