Economy

Aug 8, 2014

Relax, the unemployment figures are not so bad

Oh no, Australia's unemployment is at a 12-year high! But if you look more deeply into the figures, you'll find things aren't so dire after all ...

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

A lot of frothing at the laptop and on TV and radio yesterday accompanied news that the unemployment rate has risen to a decade high of 6.4%, seasonally adjusted. The number of new jobs fell (a whole 300 was the estimate) against forecasts for 12,000 or more new jobs from the market. The rise in the headline rate to a 12-year high triggered the outpouring of gloomy stories, such as we saw in the morning papers on Friday.

3 comments

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3 thoughts on “Relax, the unemployment figures are not so bad

  1. Jimmyhaz

    Surely the consistent upwards trend is the problem, not this month’s job losses in particular.

  2. Yclept

    And surely the under-employment problem that dwarfs this 6% lie is the real problem.

  3. Itsarort

    And if you were just laid-off yesterday with a mortgage and a family, who actually gives a fuck what Glenn Dyer thinks about the numbers.

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