Latest monthly benefits data is out but it's just more of the same - stumbling along the bottom of the slump with the odd glimmer of hope. A few quick highlights... Here's the year-on-year increase in people on a main benefit. Starting to look very sticky. [🧵 1/n] - ThreadSky

About ThreadSky

musicalchairs.bsky.social • 14 days ago

Latest monthly benefits data is out but it's just more of the same - stumbling along the bottom of the slump with the odd glimmer of hope. A few quick highlights...
Here's the year-on-year increase in people on a main benefit. Starting to look very sticky. [🧵 1/n]

Comments

musicalchairs.bsky.social•14 days ago

Benefit recipients are at record highs, but as a % of working-age population we've been in a worse pickle (the Roger & Ruth picked years). What worries me most is how anaemic our recovery will be if Govt don't wake the fk up. Sustained unemployment is toxic. Invest in our future you ghouls. [2/n]

musicalchairs.bsky.social•14 days ago

People gasped at how pessimistic the benefits forecasts were at the last budget update (HYEFU24). But, they look pretty accurate so far. Here's the main benefits figures... [3/n]

musicalchairs.bsky.social•14 days ago

And, here's the jobseekers numbers.... 200,000+ kiwis on the dole because that's how we keep workers desperate and wages low in NZ. Again, look how much the forecasts changed after the double-whammy of RBNZ leaving interest rates too high too long and Govt pulling back planned spending [Ends]