With unemployment up by 38,000 to 2.49 million, the Misery Index is nearly at our most miserable this year. However the bad news isn’t all due to the rise in joblessness. The Public Sector Net Cash Requirement is not seasonally adjusted and is up considerably on last month. Either way we are 7 points more miserable then we were this time last year…

N.B. Stats bods can check Guido’s adding up here.