| -CraZed- said: Wow 5.4%!!!! That's an amazing number isn't it!?? Well it is until you look at the actual participation rate which sits at a solid 65%. In real numbers that is around 7.7 million out of 22+ million Adult Aussies not working!!! Thats a real unemployment rate of oh about 35%! While that is slightly better than the US (by like 1.2%) it still isn't something you should really be bragging about. So your politicians meddling in the organic economy works about as well as ours does. Which is to say it doesn't work... AT ALL! The minimum wage is a feel good measure that, forces companies to hire fewer workers, raise the prices of goods and services and does nothing to fix living standards etc. In fact it has been the reason we here in America see much higher unemployment and more poverty for most minorities, who historically have been willing to work for less. If governments would butt the hell out of the organic economy and let it work like it is supposed to things would be much better. All this price fixing, minimum wages, carving out of territories etc. is why people cannot find work. |
Yes, I'm not surprised that about 35% of Australians aren't trying to participate in the workforce. That would be because many of them are Children, the Elderly, studying, or have a husband or wife who makes the money for the family.
Meanwhile, the rate of poverty in Australia is also lower than it is in the US. Tell me again about how somehow, a higher minimum wage increases poverty.
And do you know why unemployment in Australia isn't lower than it currently is? Because the Australian government, like most governments at the moment, are on an idiotic austerity kick, cutting funding for all sorts of important things so that they can be seen to be "balancing the budget".
But hey, why bother actually looking at other countries and asking why they're getting different results from the US, when you can just shout your ideology at the other side?
