tag:blogger.com,1999:blog-8434369190746987531.post1862886670067504714..comments2023-11-05T23:07:01.842+11:00Comments on Grog's Gamut: Full-time up, part-time down: unemployment rate flatGreg Jerichohttp://www.blogger.com/profile/04956402439870441083noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-8434369190746987531.post-44779813512555258542012-02-03T15:51:08.792+11:002012-02-03T15:51:08.792+11:00Are you really serious?
I mean no offense, but I ...Are you really serious?<br /><br />I mean no offense, but I can only assume you are kidding me.<br /><br />"Yes we had full employment in the 1960s, we also had a closed, backward looking economy that didn't bother getting colour TV till 1975 (a decade at least after America and 7 years after the UK)..."<br /><br />We have colour TV! We've moved to paradise, then.<br /><br />"... and which produced cars years behind the rest of the world in technology and safety"<br /><br />Now we don't produce cars years behind: we just don't produce cars anymore. Period.<br /><br />And you forgot to mention: now we have several Miss Universe, too. That's what I call progress.<br /><br />We're in trouble. Deep trouble.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-47442389414891986742012-01-24T21:42:08.877+11:002012-01-24T21:42:08.877+11:00"We haven't had import controls for a lon..."We haven't had import controls for a long while already"<br /><br />Yeah since the 1980s. <br /><br />Yes we had full employment in the 1960s, we also had a closed, backward looking economy that didn't bother getting colour TV till 1975 (a decade at least after America and 7 years after the UK), and which produced cars years behind the rest of the world in technology and safety. <br /><br />I have no desire to return our economy or society to how it was in the 1950s and 1960s.<br /><br />Inflation targeting? Sure - because from '78 to '89 inflation averaged 8.3%. Since 1990 it has averaged 2.9%. I know which economy I'd prefer.Greg Jerichohttps://www.blogger.com/profile/04956402439870441083noreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-67054767865328636222012-01-23T12:20:51.045+11:002012-01-23T12:20:51.045+11:00I think the main difference between the full emplo...I think the main difference between the full employment days following WW II and now is the lack of political will from the Govt to actually achieve a 2% unemployment rate.<br /><br />Also, Grog, a couple of subtle spam-bots seem to have made it through the filter up there.Andosnoreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-85389319622637260762012-01-23T10:48:29.967+11:002012-01-23T10:48:29.967+11:00Greg
Yeah, right.
"High tariff walls for eg...Greg<br /><br />Yeah, right.<br /><br />"High tariff walls for eg helped protect some pretty noncompetitive industries."<br /><br />Come on. We haven't had import controls for a long while already. And still, unemployment is higher. <br /><br />Were we not able to develop any competitive industries in the meantime, you know, to absorb the slack? <br /><br />What people overlook is the effect of inflation targeting, the NAIRU mumbo jumbo, fiscal sore+ obsession, privatization and all these other wonders on unemployment.<br /><br />They all involve a trade off: more unemployment in exchange for something some egghead working at the RBA or the Treasury, with secure employment, considers more valuable.<br /><br />That's why, 50 years down the road, the unemployed are still worse off.<br /><br />And, by the looks of it, they better get used to it.<br /><br />Markus<br /><br />PS, <br /><br />Very appropriate and timely the string presented for word verification: follyhhAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-23039139682054572662012-01-22T18:57:00.013+11:002012-01-22T18:57:00.013+11:00Yes Markus - life and the economy was different th...Yes Markus - life and the economy was different then - high tariff walls for eg helped protect some pretty noncompetitive industries.Greg Jerichohttps://www.blogger.com/profile/04956402439870441083noreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-81851708973407844342012-01-21T10:00:26.673+11:002012-01-21T10:00:26.673+11:00I imagine you guys must be considerably younger th...I imagine you guys must be considerably younger than me.<br /><br />How do I reach that conclusion?<br /><br />Easy: "Now 5.2% [unemployment rate] remains very good historically".<br /><br />Not really. You guys should have a look at Labour Force Historical Timeseries, Australia, 1966 to 1984 (ABS cat. no. 6204.0.55.001): from at least the mid 1960s and up to the early 1970s the unemployment rate was UNDER 2%.<br /><br />During some 50 years the unemployment rate has been considerably worse than that...<br /><br />Cheers,<br /><br />Markus A.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-83898401202860584272012-01-19T22:04:22.118+11:002012-01-19T22:04:22.118+11:00Many of the baby boomers are waiting for the econo...Many of the baby boomers are waiting for the economy to recover before retiring and claiming their super. Potentially the imminent fall in participation rate will be offset, to some extent, by rising employment/govt revenue etc.Ben PJnoreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-64541848950639730232012-01-19T20:12:58.105+11:002012-01-19T20:12:58.105+11:00The male lack of employment amount lowered 0.2 pts...The male lack of employment amount lowered 0.2 pts to 5.0% and the female lack of employment amount.ayurvedic remedieshttp://www.best-home-remedies.com/alternative_medicines/ayurvedic_remedies.htmnoreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-58341915216954020712012-01-19T19:06:45.554+11:002012-01-19T19:06:45.554+11:00Space K - that is something that is definitely goi...Space K - that is something that is definitely going to lead to lower participation rate - one of the crucial issues of the ageing population. <br /><br />We can expect a lot of problems and not just with having less people in the economy working, the problems of aged care are going to get real ugly within the next decade. I know this is one issue that Possum is very big on.Greg Jerichohttps://www.blogger.com/profile/04956402439870441083noreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-5398043377942380532012-01-19T17:06:21.850+11:002012-01-19T17:06:21.850+11:00Grog,
Just curious as to how the baby boomer reti...Grog,<br /><br />Just curious as to how the baby boomer retirements will impact the participation rate over the next few years.<br /><br />Any ideas as to what we can expect?Space Kidettenoreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-1931724642031386892012-01-19T16:37:08.125+11:002012-01-19T16:37:08.125+11:00Mark - yep things are still very dire over there. ...Mark - yep things are still very dire over there. And when unemployment is at 8.5-9% falls in participation rate can very much be due to people giving up. When it's at 5.2% I think that reason is less of an issue (though I'm not basing this on any data)Greg Jerichohttps://www.blogger.com/profile/04956402439870441083noreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-58510036134180328472012-01-19T16:24:03.785+11:002012-01-19T16:24:03.785+11:00You should see the historical unemployment rate ba...You should see the historical unemployment rate back to 1940...Andosnoreply@blogger.comtag:blogger.com,1999:blog-8434369190746987531.post-13663949864882723902012-01-19T16:22:26.240+11:002012-01-19T16:22:26.240+11:00The recent falls is the US unemployment rate is la...The recent falls is the US unemployment rate is largely thanks to the fall in the participation rate (now at 64%)Marknoreply@blogger.com