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Bruce
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Wollongong, Australia
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17-07-2020, 12:15 AM
1

Unemployment Worst Ever

Yesterday the latest unemployment figures for June were released and the headline rate is currently 7.4%. Youth unemployment has risen to 16%. These are the worst figures since 1998.

This figure is known to be artificially low because of the Jobkeeper scheme.

Treasurer Josh Frydenberg acknowledged earlier this week that real unemployment was 13.3% in June.

Today the Prime Minister Scotty from Marketing revealed that the actual unemployment rate was 11.4% when people on Jobkeeper with zero hours are added in. He said this reflects the improvements as the economy slowly reopens.

With the economy not expected to recover entirely for years to come, plenty of hard days lay ahead for the average Australian worker.

How are the workers in your country doing?
spitfire
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Warwickshire
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17-07-2020, 06:50 AM
2

Re: Unemployment Worst Ever

If nothing has changed since the 20th century, some will be reading the Newspaper and some having a chat by the Coffee Machine.
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d00d
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London, UK
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17-07-2020, 06:56 AM
3

Re: Unemployment Worst Ever

... and sitting on the photocopier.
spitfire
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Warwickshire
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17-07-2020, 07:05 AM
4

Re: Unemployment Worst Ever

Its amazing that some folks managed to squeeze a "Work Break" into their daily routine.
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Baz46
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Somewhere rural 'out in the sticks', UK
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17-07-2020, 07:11 AM
5

Re: Unemployment Worst Ever

The full extent of unemployment is being 'artificially hidden' by the measures put in place since the coronavirus pandemic began. There are various figures showing the true extent of present or expected future unemployment, these do sound as if it's expected to get worse than it appears now:

https://www.bbc.co.uk/news/business-53416207

https://www.statista.com/statistics/...ment-forecast/

https://www.independent.co.uk/news/b...-a9598701.html
spitfire
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Warwickshire
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17-07-2020, 07:15 AM
6

Re: Unemployment Worst Ever

Sometimes, its a better indicator watching Folks not Stats.
swimfeeders
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Shropshire
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17-07-2020, 07:45 AM
7

Re: Unemployment Worst Ever

Hi

Here in the UK we have a failed policy of funding everything out of current earnings rather than having a Sovereign Wealth Fund to pay for Pensions and Social Care.

With Unemployment rising we do not have the income to pay for things.
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OldFogey
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NW UK
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17-07-2020, 08:44 AM
8

Re: Unemployment Worst Ever

Coming on top of the Brexit disaster, Covid-19 has produced, and will continue to produce, a calamitous situation.
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The Artful Todger
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Suffolk UK
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17-07-2020, 11:59 AM
9

Re: Unemployment Worst Ever

Originally Posted by OldFogey ->
Coming on top of the Brexit disaster, Covid-19 has produced, and will continue to produce, a calamitous situation.
It's BREXIT that will at least limit the disaster of this pandemic. The EU countries will be much harder hit.
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LongDriver
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West Sussex (coastal)
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17-07-2020, 03:34 PM
10

Re: Unemployment Worst Ever

Originally Posted by d00d ->
... and sitting on the photocopier.
So THAT'S how she got behind in her work
 
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