It looks worse than actually it is because a bunch of people decided they would start looking for work in the second quarter than the one before it.
So, there are a bunch of reasons for this happening, but basically you don't really know.
You don't know what you don't know.
It's anyone's guess.
It could be that people go, oh, the job market is on the up, so it's actually worth me trying to look for work now, which would be a good thing.
But also, the net rate is better than it was in March.
There are a couple of reasons, a couple of good takeaways from yesterday's number.
The net rate better than it was in the March quarter.
That's young people, so ages 15 to 24 who are not in employment, not in education, or not in training.
So, you want as you want fewer of them.
It was 14.4% it's now 13.8% Sure, definitely room for improvement, but there is a slight improvement.
Young people who couldn't find work have gone into education to upskill, which is exactly what you want them to do at a time like this.
The numbers still higher than you want, of course.
They both are actually on the whole, but with context, not as bad as they look at first glance and with some promising signs under the hood.
And every economist and his dog right now will tell you don't let this put you off.
Unemployment is the lagging indicator, so it's the last one that will turn in an economic turnaround.
And gee, this thing's been a titanic of a turnaround job.
But there are plenty of reasons to be optimistic despite the headline number that came out yesterday.
Ryan Bridge is a New Zealand broadcaster who has worked on many current affairs television and radio shows. He currently hosts Newstalk ZB's Early Edition - where this article was sourced.
1 comment:
I have a small business. We want people to expand. We have trained 6 young ones. Ideally we would like someone to buy me out eventually. What an opportunity. Here is a chance to buy an affordable business, returns you well over $200k, for gentlemen hours and no weekends.....if that were offered to me 30 years ago, I would not have let that guy out of my sight till the deal was done.
Anyway, Of the 6 young people we trained, 5 were useless and/or incompetent, turned up sometimes, didn't really want to work. The 6th one didn't bother to show at all. When he finally answered my calls he told me he thought it was going to rain today and didnt want to get wet. Bless the young generation. No resilience. He told me that tomorrow is looking better so he MIGHT see me tomorrow. I advised him not to bother!
We have given up on trying to find additional people and i understand that I will (probably) be selling this business to a foreigner who may or may not speak English but at least is happy to work - and understands the great busines they will have. Im betting they wont be as generous as me with his employees, but who really knows?.
I thought starting at $35 ph was better than the dole. But there is something else going on with these young guys. They seem to think they are entitled to get that money for doing nothing.
Imo from what I have seen, the dole is a soul and life destroying cup of poison, packaged up as a 'gift' and promoted by the (predominantly left) parties as a 'way of life' and entitlement, when its actually anything but. It seems cruel to me to be on the dole, but there are records numbers going for it. Their choice i suppose. But all the ones I know on it have virtually no pride or self respect within 6 months.
Just my humble observations.
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