Friday, October 09, 2015

Stalled recovery?

Apropos of nothing in particular, here is the current state of unemployment. In terms of pre-GFC it's not pretty, particular for females.

Not to mention the rates for Maori and Pacific which would require a much taller graph.

The current Maori unemployment rate is 12.6% and Pacific is 11.3% (June quarter).

One thing I would note is that pre-GFC unemployment levels were unusually low. That's the only positive (spin) I can find. Oh, and NZ is still faring relatively well internationally. Though I doubt that is much consolation for the unemployed.


Anonymous said...

You might like this to read. Usually Rodney is good at his predictions. Way better than the RBNZ and the Govt. at whose feet lie the disaster that NZ has been for 20 + years.

Lindsay Mitchell said...

Thnks anon. I haven't properly absorbed it yet but it seems to me that immigrants (selected by govt for higher skills/incomes) bring demand with them. That demand creates jobs rather than takes them.

Anonymous said...

Though I doubt that is much consolation for the unemployed.

Unemployed don't deserve consolation. We could easily get to zero unemployment tomorrow: abolish the minimum wage and the dole and DPB

Anonymous said...

Well worth following Rodney. He Has free and paid subscriptions. Like Rendell very scathing of RBNZ and rightly so. Their legislation is more about the Gov's bonuses than about making NZ wealthy.
which is why we are relatively poor by world standards when we shouldn't be.
The KPI of the legislation needs changing to drive our growth in wealth. Inflation we have never and can never control with interest rates as it is imported.

Funny in a way as Winston has said this for years.