WARNING: Only the last link is safe for work. The first two links are not safe for work. The last link is not safe for home – unless you have a video camera ready and are going to upload your reaction.
The latest unemployment rate is a stunning figure, Prime Minister John Howard says.
Mr Howard said there had been sustained low unemployment for 20 months, and the human dividend of full employment was more important than anything else.
Full employment? Unemployment figures say nothing about “full employment”. If you work 65 minutes a week for $15/hour, you’re considered employed. If 100% of the population did that, we’d have 0% unemployment, but we’d be a long way form “full employment”.
People who are not employed, are seeking work, but not available to commence a job on the date the survey was taken *because they are sick with a minor cold that day, but could start tomorrow* are not considered unemployed. People temporarily stood down from their job because of insufficient work, even if they’re seeking other work to tide them over, are considered employed, even though they’re receiving no pay and would like to be employed more.
There’s a lot of information about the definitions of unemployed, long-term unemployed, and so on, at http://www.abs.gov.au/ausstats/abs@.nsf/featurearticlesbyCatalogue/C9268F9DB356D154CA256A950080B3E3?OpenDocument – including graphs and charts detailing how changes that were made to the definitions of “unemployed” and “long-term unemployed” in ’01 reduced the numbers in both categories, without actually finding anyone new work.