by ubercynicmeister » Sat 09 Jul 2005, 23:19:05
$this->bbcode_second_pass_quote('Novus', 'T')he unemployement rate is calculated with statistical sampling. It is highly flawed and easily manipulated. Payrolls only grew 146,000 which isn't even enough to keep up with population growth. The real unemployment rate is somewhere near 7% in the US.
In Australia, the "Unemployment rate" is supposedly at a low of 5% .
This is what they DON'T TELL YOU:
They don't count those on work-for-the-dole schemes: add 7.5%
They don't count those on sickness benefits, who still recieve the dole but have a doctor's certificate excusing them from searching for the non-existant work: add 5%
They don't count those on the dole if they get 1 hour's work per week (about 30 hours work seems to be the dole cut-off here in Australia): add 5%
They don't count those who have Just Given Up: add 10%
Total: 5% + 7.5% + 5% + 5% + 10% = 32.5% actual unemployment.
For my own area, and "own" age group, 19 to 35 year olds in the Hunter Valley of New South Wales, Australia, we have an OFFICIAL unemployment rate of 31%!!!!!
NOTE: this is before Peak Oil starts to bite.
it was all done by Downsizing, caused by Economic Rationalism and Freemarket Fundamentalism.