Unemployment rate low?

The governments goes on and on, and on about a 30 year low unemployment rate of 5%, but I (and Mr Howard) have lived long enough to remember when things have been much, much better, what is going on? Are they misleading us? A check of the relevant web site reveals that they are quite right but it also reveals much more. The rate 30years ago was not a minimum but part way through a drastic rise which commenced in 1974 32.5 years ago. Further examination of the data revealed that to find an earlier time that unemployment was as high as 5% we must go back to 1940 (66 years ago) and the great depression. In the years between 1934 and 1974 the average unemployment was only 2%. So 32 years ago it was 2% and to find a time when it was at or above current levels we must go back to the great depression! And the “opposition” permits this 30 year claim to go unchallenged!

Another point is that in this period 40 to 72 years ago most employed people were in full time employment but now only 60 have full time employment.

How can they get away with this true but very misleading assertion?

“They lie these men who tell you for reasons of their own
That want is here a stranger and that poverty’s unknown
For where the nearest suburb and the city proper meet
My window sill is level with the faces in the street.

Henry Lawson “The faces in the street”



Source (rba)

http://www.rba.gov.au/PublicationsAndResearch/Conferences/1998/BorlandKennedy.pdf.

I think employment statistics need to put into the context of how society has changed. For example, one should consider participation rate. In the past (40 plus years ago) many woman were housewives and were not seeking work, so they were not counted as unemployed. Now many women work and there are comparatively more single person households. Evidently, then, we have a higher portion of the population participating in the workforce than before.

if there is such low unemployment and such a huge demand for skilled workers, then why does the Government continue to prop up the car industry with billion dollar subsidies?

Surely it would be better to release this pool of skilled people into the labour market, instead of subsidising cars which people dont want because they are too large.

Yeh I reckon its crap too.
When you think about how many people are doing voluntary,casual or part time work coupled with single parents the real figure in context must be at 15% or higher.

They are very sneaky but still these are good and interesting times we are a livin.

Interesting point about the car industry which employs about 70,000 people.

I don't think that the Federal Government will be giving more handouts. It's the state governments doing their usual pleading.

There simply is not enough room in Australia for the number of car makes we have. Nor is there a place for manufacturers who do not build 1 single small car here, preferring to stick to the petrol guzzlers. They have to provide what customers want.

If we were serious about globalisation and free trade, and smartened ourselves up, we would have by now provided different jobs for those in the car industry and let that industry survive on its own merits.

Any form of manufacturing can be done much cheaper elsewhere. It's a pity that politicans sneered at Barry Jones when he talked about the "smart country".

The lack of committment to free trade by our politicians is also seen in the fact that we have been denied cheap bananas from the Philipines while our own growers grew rich through the ridiculous prices charged following crop damage.

You can't please some people. I know people in a number of locations throughout Australia who can't get unskilled workers. No matter how good things are you will always get those wanting to be the victim (must be to ingrained with socialism). Can't somebody be happy that never before has our kids had it so good. I grew up with parents who never owned their own home (still don't) and yet people complain that they have not got it all by the age of 30. I know that their are a lot of Howard haters on this forum but at least give him some credit (it does not mean you have to like him)