Wednesday, January 23, 2019

The best of times and the worst of times...

In recent history, the NZ unemployment rate saw the best of times in the latest quarter - December 2018.  It saw the worst of times when the Great Recession of 2008/09 took hold.


(Click on image to enlarge)


From a welfare viewpoint - the % of working-age dependent on a benefit - this is what the two extremes look like:



There is a 2 percentage-point variation between the two polar points.

Is 10 percent of the working age population dependent on a benefit now as good as it gets?

Here is some context for you to digest.

There was a decades-long period post 1938 (when Social Security was created) when the norm was consistently around 2 percent of the working age population dependent on taxpayers.


Now we are expected to celebrate 10 percent.

2 comments:

Anonymous said...

Ahhhh, the good old days. Welfare and socialism are a continuing plague.

3:16

Don W said...

I think that if you are not getting money from the gov't you are in a minority as so many sectors of society from the poor to the rich are getting gov't handouts . It seems that people are afflicted with entitlelitus.Sooner or later the money is going to run out, what then.? wide spread civil disobedience.?