Monday, March 26, 2007

But wait. There's more...




Many thanks to PC for this improvised table (Left click on image to enlarge).

Here is the problem. The downward trend for all benefits (the top red line) must be very close to arresting given the upward trend of sickness and invalid benefits. DPB is trending down but that is largely a smoke and mirrors story to date.

Unemployment is not going to go much lower. We had been the lowest but are currently fourth equal lowest in the OECD.

Historically unemployment numbers were lower when full employment was a policy practised by government as a welfare policy. It was based on a 1 wage earner per family scenario. Those days are gone.

So look again at the graph. In there is a huge block of people who are lifestyle beneficiaries - the product of the last thirty years. A good few are genuine but a good few (probably more) are living quite deliberately and unnecessarily on the public purse.

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