Comments on: Shoots Are Greener in Australia? http://www.stubbornmule.net/2009/05/green-shoots/ Obstinately objective Thu, 29 Jul 2010 16:35:36 +0000 hourly 1 http://wordpress.org/?v=3.0 By: stubbornmule http://www.stubbornmule.net/2009/05/green-shoots/comment-page-1/#comment-3056 stubbornmule Sat, 06 Jun 2009 07:38:23 +0000 http://www.stubbornmule.net/?p=1694#comment-3056 @earl: There's no doubt that the "invisible" unemployed like yourselves are significant in number. Some <a href="http://bilbo.economicoutlook.net/blog/?p=972" rel="nofollow">estimates for the overall rate of labour under-utlisation</a> (i.e. visible and invisible unemployed) for Australia are as high as 11.2%. Have a look <a href="http://bilbo.economicoutlook.net/blog/?p=2644" rel="nofollow">here too</a>. Personally, I am a somewhat skeptical of the current enthusiasm for "green shoots", but even if conditions do deteriorate further there are signs that Australia will not be hit as hard as the US and certainly not as hard as the UK. The way Rory Robertson puts it, the US and the UK are on track for the worst downturn since the Great Depression, Australia is "only" on track for the worst recession since the 1990s. Of course, that's only good news in a relative since as the 1990s recession in Australia was a painful one. Of course, a more pessimistic view (which I hope is wrong) is that global downturns always hit Australia with a lag, so there's much worse to come and we won't be better off than the US and the UK. Fingers crossed and good luck in your job hunting! @earl: There’s no doubt that the “invisible” unemployed like yourselves are significant in number. Some estimates for the overall rate of labour under-utlisation (i.e. visible and invisible unemployed) for Australia are as high as 11.2%. Have a look here too.

Personally, I am a somewhat skeptical of the current enthusiasm for “green shoots”, but even if conditions do deteriorate further there are signs that Australia will not be hit as hard as the US and certainly not as hard as the UK. The way Rory Robertson puts it, the US and the UK are on track for the worst downturn since the Great Depression, Australia is “only” on track for the worst recession since the 1990s. Of course, that’s only good news in a relative since as the 1990s recession in Australia was a painful one. Of course, a more pessimistic view (which I hope is wrong) is that global downturns always hit Australia with a lag, so there’s much worse to come and we won’t be better off than the US and the UK. Fingers crossed and good luck in your job hunting!

]]> By: earl http://www.stubbornmule.net/2009/05/green-shoots/comment-page-1/#comment-3055 earl Fri, 05 Jun 2009 22:35:17 +0000 http://www.stubbornmule.net/?p=1694#comment-3055 Or is it green mould forming on something that is still dying?? I, along with 10% of my fellow workers, was retrenched in March and remain out of work. Im not registered as unemployed as currently my wife is still working and we are surviving off the redundancy. Unless I secure a job in the next few weeks I will have to investigate the process of registration and I will become "visible" from the un/employment point of view. I dont think Im a unique case...... Or is it green mould forming on something that is still dying?? I, along with 10% of my fellow workers, was retrenched in March and remain out of work. Im not registered as unemployed as currently my wife is still working and we are surviving off the redundancy. Unless I secure a job in the next few weeks I will have to investigate the process of registration and I will become “visible” from the un/employment point of view. I dont think Im a unique case……

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