Tuesday, May 23, 2017

25% Unemployment? Yes

The official unemployment figures published in Australia, NZ and the US essentially are a crock full of shit.

In Australia the official figure is 5.9% of the workforce.  I have doubted this figure for some time.

For five years now, Adolf has had a part time 20hr/week job as a street walker, the euphemistic title for which is 'market research interviewer.'  I go out door knocking on Thursday, Friday and Saturday for around 40 weeks of the year in the Northern suburbs of Adelaide.  (This region happens to include the soon to close Holden plant.)

Five years ago it was common on Thursday and Friday to struggle to gain the required number of interviews per day, due to the fact very few people were at home.  Accordingly one was restricted to interviewing the elderly, infirm, retarded or the rare stay at home mother.

Today, Thursday and Friday quotas are filled with ease, owing to the multitude of unemployed but able bodied people at home, wondering where their next jobs will come from.

In light of the above, readers will be interested in this confirmation of my suspicions from today's Australian newspaper.

Anyone working more than one hour a week is counted as employed, even if they are volunteers. To be included in the ranks of the jobless, you have to have applied for a position in the past month and be ready to start straight away. Almost seven million people are judged as not part of the labour force yet roughly a fifth are job seekers who do not meet the official description of unemployed. Add the ranks of the underemployed (1.1 million workers) to these hidden jobless and the real rate of unemployment climbs to more than 23 per cent. And this figure does not include unemployment disguised by make-work schemes, low-value training or the inadequately vetted Disability Support Payment.

I wonder what the story is in NZ?  No doubt up in Harawira country the real figure will be well over 50%.

When you have one of the most expensive and unreliable electricity supplies in the world, nobody will take the risk of setting up a new business.

Australians are in much deeper trouble than most of them realise.

1 comment:

Anonymous said...

I could actually point you in the general direction of reliable stats......but I am tired.

Lord Egbut