The sky is falling....not

Finding a balance between a realistic attitude to the recession, and running around screaming the sky is falling, is not an easy thing to do. However leaning towards the latter approach runs the very real risk of making matters worse. So when I read the following,

Jobs in construction, retail, hospitality, agriculture, finance and manufacturing have been declining - manufacturing and retail sectors have suffered falls in the number of jobs of more than 20 per cent in the last year....

... I get a little brassed off.

Let's contrast that statement with the latest Household Labour Force Survey - the official source of employment and unemployment data - information.

People employed by industry

Manufacturing December 2007 275,400
December 2008 269,100

Wholesale and retail December 2007 502,000
December 2008 502,000

Did he mean falls in the number of jobs advertised? If so, say so.

A combined loss of 20 percent over the past year would equate to 155,480 jobs. Assuming no re-absorption of workers elsewhere, that's enough to push the unemployment rate higher than it has been since the depression.

Still, if you read it in the newspaper....