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What is MORE interesting is the latest employment "participation rates", this is a pretty huge gap.
Australia 64.8%
New Zealand 68.9%
The biggest reason for the differences in the participation rates is the around 400K long term unemployed being hidden on Australian disability benefits which this current government finally appears to be addressing. I would speculate headline unemployment will get a fair bit worse here in Aus before it gets better, don't think anyone needs to hit the big red panic button, but its a bit of a worry nonetheless.
What is MORE interesting is the latest employment "participation rates", this is a pretty huge gap.
Australia 64.8%
New Zealand 68.9%
The biggest reason for the differences in the participation rates is the around 400K long term unemployed being hidden on Australian disability benefits which this current government finally appears to be addressing. I would speculate headline unemployment will get a fair bit worse here in Aus before it gets better, don't think anyone needs to hit the big red panic button, but its a bit of a worry nonetheless.
I agree with the bold part, though are not particularly worried about unemployment at the moment, despite the fact I no longer have a job (I wont be looking until we secure some day care).
Good on NZ, no idea why the participation rate is so high.
Methodology was changed from this month which led to the spike.
It's always a good idea to look at the facts behind the stats, rather than accept them at face value.
Economist Justin Fabo from ANZ bank said
Quote:
Changes in the sample of people surveyed by the ABS, as well as methodological changes over who it counted as looking for work, made it hard to get a clear read on the result, he said.
The ABS on Thursday detailed the changes, which include counting as looking for work people who “had an interview with an employer for work,” or “taken steps to purchase or start your own business.”
The bureau now also counts looking for vacancies on the internet or newspapers as an active job search. While it said there was no evidence of any impact on the employment figures, the cash-strapped bureau conceded it did not have the money to accurately measure the impact.
“The weakness...is difficult to reconcile with a range of other labour market indicators,” Mr Fabo said, pointing to a recovery in job advertisements.
“We are not reading much into the extent of the weakness...it’s a case of waiting for another month of data.”
I agree with the bold part, though are not particularly worried about unemployment at the moment, despite the fact I no longer have a job (I wont be looking until we secure some day care).
Good on NZ, no idea why the participation rate is so high.
Yea I mean for perspective, I entered the Job market in NZ in the early 90's when unemployment was around 10%, it was equally horrible over here so its hardly horrific yet. It just usually means it takes longer to find employment. As for Kiwis relying only the SCV long term I would be thinking twice, 3-4 months with no income while looking could be very debilitating.
Quote:
Originally Posted by BCC_1
Methodology was changed from this month which led to the spike.
Yea I saw that, but Aus has had a slipping participation rate for a while which is the more important indicator. Unemployment rates are heavily manipulated, regardless the job market has been slipping for a while imho. Aussies seem to ignore the 800,000 people on disability, it really should be half that much in a population this size, Tony Abott has pretty much flagged it, its not going to help the job market while its restructured.
Yea I saw that, but Aus has had a slipping participation rate for a while which is the more important indicator. Unemployment rates are heavily manipulated, regardless the job market has been slipping for a while imho. Aussies seem to ignore the 800,000 people on disability, it really should be half that much in a population this size, Tony Abott has pretty much flagged it, its not going to help the job market while its restructured.
The number of people claiming disability is not out of step with comparable OECD countries. It's pretty much middle of the pack.
Agreed, but you will note some very large variances, it looks better for a government to have people on disability than unemployment, just because others are doing it, doesn't make it a good practice.
NZ did it in the late 90's but there was a media storm and the government vowed to reverse it which had the effect of higher headline unemployment numbers for some time, its just I have seen this before with Tony Abbott's comments, only time will tell but if 200-300K come off disability they have to go somewhere.
Agreed, but you will note some very large variances, it looks better for a government to have people on disability than unemployment, just because others are doing it, doesn't make it a good practice.
NZ did it in the late 90's but there was a media storm and the government vowed to reverse it which had the effect of higher headline unemployment numbers for some time, its just I have seen this before with Tony Abbott's comments, only time will tell but if 200-300K come off disability they have to go somewhere.
Sure. Although the participation rate for those with a disability hasn't really changed in the last 20 years. Personally, I find it hard to believe there are 800,000 working age Australians who are disabled to the point of not being able to work. I think there's probably some reluctance by employers to hire as well; if someone can't find work because of their disability, should they not be entitled to a disability pension?
Quote:
Labour force participation provides an indication of both the desire for and availability of paid work, and the ability to obtain and perform such work. Between 1993 and 2009, the labour force participation rate for working-age people (15-64 years) with disability was relatively stable. In 1993, the rate was 55%, and this was broadly similar in 2009 at 54%.
Sure. Although the participation rate for those with a disability hasn't really changed in the last 20 years. Personally, I find it hard to believe there are 800,000 working age Australians who are disabled to the point of not being able to work. I think there's probably some reluctance by employers to hire as well; if someone can't find work because of their disability, should they not be entitled to a disability pension?
Well, I know back home people used to go to the doctor with "Depression" and if you played the game right you could scam a sickness benefit that paid more, no doubt some were justified but it turned out many were not.
Its about weeding out the fakes without condemning the truly vulnerable I guess, and in this context trying to determine the percentage of fakes.
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Critical thinking
