Originally posted by: soccerballtux
Originally posted by: WhipperSnapper
Originally posted by: soccerballtux
That's only 0.33% of our population, so say working population is 100m, that's an increase of 1% in unemployment.
What are we at now? 6%? Not bad. To be expected.
A 1% loss over a six month time period is pretty significant.
As for that 6% number, as has been stated many times in various threads, the reported "unemployment" numbers completely fail to reflect the real status of the job market as a result of not counting a great many people who are unemployed and by completely failing to account for significant underemployment. A much better stat would be one that looked at the percentage of working-aged people employed at various income levels. After all, if 97% of the populace is employed at a third world wage of $3/hour then technically you only have 3% unemployment even though everyone is impoverished.
I agree it is significant, but as I said to be expected during a recession.
As for your latter post, I agree we will be in for some rough times ahead. Maybe. Technology always delivers. Electric cars will solve our woes. Genetically engineered crops can be used to re-fertilize the soil instead of oil-based fertilizer. We've got plenty of oil left though, plenty. Canada has as much as the whole middle east, in their sand beds.
Cutting welfare would be a nice step towards solving population woes.