My column on economists etc being gloomy that unemployment is low because they think we need more people unemployed. (f*ck them, I say) www.theguardian.com/business/gro... - ThreadSky

grogsgamut.bsky.social • 129 days ago

My column on economists etc being gloomy that unemployment is low because they think we need more people unemployed. (f*ck them, I say)

https://www.theguardian.com/business/grogonomics/2024/oct/24/australia-unemployment-rate-september-jobless-figures

Comments

borderpatrolma1.bsky.social•129 days ago

How's the working poor (ie hand to mouth) situation there currently and what percentage of those employment figures captures that?

jasemurphy.bsky.social•129 days ago

Yep. Full employment helps people who are marginal; low rates help mostly people who can get loans.
The long run hysteresis effect of moving marginal people into employment is very valuable to them and to all of us.

tomjconley.bsky.social•129 days ago

Plus rising unemployment - if it were sustained - would have a significant effect on those very same leveraged mortgagees.

smoothcaramel.bsky.social•129 days ago

Interest rates aren't terribly high, historically. The rate of change was shocking, and compared to the last 10 years they're obviously well up.

As a mortgage holder, I'd like them to come down a bit though, too.

anthonysmaroon.bsky.social•129 days ago

If there's always meant to be a certain % unemployed so politicians can play the 'dole bludger' 'get a job' 'look how many jobs we've created than the other side' for political points/votes game there should be an #UBI or just #raisetherate #auspol

haddagutful.bsky.social•129 days ago

#raisetherate FFS, when we read that a man was diagnosed with scurvy because he couldn’t afford decent food and Drs are saying he won’t be the only one keeping people in dire poverty is a disgraceful decision by this government.

anthonysmaroon.bsky.social•129 days ago

Smashing job Labor's done with their surpluses & beating the other team to be higher on the footy ladder. Go team!🫠🫠🫠

miriam12.bsky.social•129 days ago

Economists seeing people merely as statistics has always creeped me out. The large pool of unemployed required to absorb growth spurts in particular, tho that was expressed carefully. And this idea was held by conservatives alongside the spoken assumption that the unemployed were lazy layabouts ...

wilful.bsky.social•129 days ago

BuT wE'Re a sCieNce!

roseannebyrne.bsky.social•128 days ago

Must have an underclass to control their god economy. It’s sickening. Just who agreed to let economists run our world?

spoonbill.bsky.social•128 days ago

Same people who decided to give all the money to white men with personality disorders, probably.

roseannebyrne.bsky.social•128 days ago

Likely!

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