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A deeper look at unemployment suggests it may not be so bad

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Australian Broker | 24 Nov 2014, 03:54 AM Agree 0
Unemployment may not be as bad as the Australian Bureau of Statistics data reveals, suggests a Commonwealth Bank economist
  • rick | 25 Nov 2014, 07:59 AM Agree 0
    Well the ABS and Comsec are kidding themselves if they conclude that unemployment is falling. The way it is calculated is a smokescreen and the smoke screen is used by all nations in the developed world. To say that working one hour in the past two weeks means you are employed or if you don't have a job and have not looked for one when the survey is conducted means you are not unemployed will give a false representation and false figures. An accurate figure would be to simply use the number of people receiving Newstart from the government when the the figures fall due, this would show that there are close to many more Australians unemployed than reported.
  • Tom | 25 Nov 2014, 09:40 AM Agree 0
    Rick, did you read the article, it says quite clearly that the data CBA used came from Social Services, so I would imagine that info would include Newstart recipients.

    Savanth actually beat you to it, and did as you suggested!
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