Jobs, jobs, jobs
May 12th, 2008 at 9:30 am by David FarrarAll three metro editorials today are on the employment figures. We start with the NZ Herald:
More worrying, the latest quarterly employment survey suggests the number of people in jobs has declined on a scale unseen since 1989. The drop in employment can be greater than the rise in unemployment because the latter excludes people who are not actively looking for another job.
Then the Dom Post:
Social Development Minister Ruth Dyson may want people to think it’s “a very small change, actually” but the biggest fall in employment since the 1980s should not be brushed off by politicians or by Reserve Bank Governor Alan Bollard, writes The Dominion Post. …
There is little room for the blithe optimism of Ms Dyson, who told Radio New Zealand after Statistics New Zealand data showed a fall of 29,000 or 1.3 per cent in seasonally adjusted employment during the March quarter, that people should not over-react. Those who have lost jobs or who are finding it harder to get one will be more inclined to accept the view that the figures are, as Westpac economist Brendon O’Donovan said, “an absolute shocker”. …
Dr Cullen has continually preached that he knew how to spend money better than those who earned it, and refused to deliver tax cuts. He argued that if he left more in workers’ pockets they would only spend more and fuel inflation. At the same time he indulged his ministers, and allowed a rapid growth in government spending that contributed to the Reserve Bank keeping interest rates high. That spending has too often been of low quality, or designed to serve a political purpose rather than deliver a real benefit to taxpayers. The absurdity of maintaining the district health board bureaucracy when the real decisions are still made in the Beehive is just one illustration of that.
The hope must be that as Dr Cullen has drawn up his Budget he has taken a rigorous look at spending to ensure that it is delivering maximum efficiency, and not incidentally to reduce the pressure from government spending on inflation.
And finally The Press:
The statistics appeared to suggest that this was not the case. In the first three months of the year, the economy lost 29,000 jobs. More than 24,000 dropped out of the labour force — they were no longer counted as being in work or looking for it — and unemployment went up by 4000, or 5.5 per cent. It was all the more surprising because it came after an uninterrupted spell of rosy employment news and was the largest decline in employment in 19 years. …
Funnily enough, none of the newspapers are agreeing with Ruth Dyson that the loss of 29,000 jobs is not bad news at all actually, or that it is insignificant.
Related posts:
- Dyson claims 29,000 fewer jobs is not bad news
- Goff’s record on jobs
- Espiner on Happy Ruth
- Unemployment hits 5.0%
May 12th, 2008 at 9:46 am
we are just entering the ‘unravelling-times’..
and this drop in jobs is just one thread of that ‘unravelling’..
(the unravelling-times’ have followed closely on the heels of ‘the denial-times’..
there are still pockets of ‘positivity”..but the facts will soon ‘mop them up’..
and this job-drop is just the beginning..
(watch for massive lay-offs in the retail/service sectors..this ‘co the wallets aren’t going to open again anytime soon..
plus..hey..!..haven’t we all got enough ‘stuff’ by now..?)
and this all just confirms my (long-held) thesis that by election time..
..the unravelling-times’ will have been replaced/supplanted..
..by ‘the panic-times’..
phil(whoar.co.nz)
Vote:May 12th, 2008 at 9:59 am
Meh. You’re wrong Phil. A decent govt in charge, things will come good again. NZ’s panic is out of all proportion to the rest of the world, and it is driven by low quality govt spending holding interest rates up.
Vote:May 12th, 2008 at 10:01 am
The DomPost says…
The absurdity of maintaining the district health board bureaucracy when the real decisions are still made in the Beehive is just one illustration of that
What nonsense is that. The DHB were created ontop of the existing Crown heath Enterprises created by national. The previous AHB generally covered large areas ( one for Auckland instead of the 3 created) and national had up to 3 separeate funding providers as well at one satge. These have gone to be ‘centralised in the beehive’ as the DP puts it.
The reorganissisng for its own sake was stopped since it created waste and turmoil at the local level.
And yes the major funding decisions are political for the obvious reason is that is who provides the money.
nationals structure was eventually to go to direct funding from the patients but was stooped for political reasons.
And yes this was some time ago. But no one has a clean sheet to work from( except a newspaper editor)
Vote:May 12th, 2008 at 10:11 am
“..Meh. You’re wrong Phil. A decent govt in charge, things will come good again..”
quick..!..call wall st/the fed/the world bank/the imf..!
i’m sure they haven’t yet realised that all they need is ‘a bitta ‘key’ in their lives’..
eh..?
(still in ‘denial-land’..?..eh paul..?..)
phil(whoar.co.nz)
Vote:May 12th, 2008 at 10:14 am
philu: and this job-drop is just the beginning
I wonder what will happen to all the beneficiaries when phil’s “panic-times” hits.
Vote:May 12th, 2008 at 10:14 am
Are you a lonely person Ghost?
Meet Phule, he’s lonely too.
You guys could be friends, go for walks, feed the ducks etc.
Phule believes it’s all going to end soon.
He’s held that belief long term.
He just needs a friend Ghosty, you up for it?
Vote:May 12th, 2008 at 10:15 am
It is all going to end for Phule soon, he is in a mad panic as it looks like he might have to go out and find a job next year.
Vote:May 12th, 2008 at 10:26 am
i think pascy..chicky..and bruvvy all have a form of a.d.d..
they seem to be unable to focus on the subject to hand..
(which..i don’t think..is the fact i am raising my nipper/’luxuriating’ on the ‘benny’..eh..?..)
phil(whoar.co.nz)
Vote:May 12th, 2008 at 10:32 am
big bruv (525) +2 Says:
May 12th, 2008 at 10:15 am
It is all going to end for PhilU oon, he is in a mad panic as it looks like he might have to go out and find a job next year.
What jobs? Where? Besides any jobs will be for people willing and able to work. Oh I forgot, there’ll be plenty of jobs on the railways. I can just imagine the likes of phil u & et al, in a Mao-like uniform complete with little peak cap and blowing his whistle, cutting a shadowry figure admidst the waffling and drifting clouds of steam …..Kinda like he and his ilk do here already perhaps????
Vote:May 12th, 2008 at 10:50 am
Bahaha
Phule as the Officious Official complete with whistle.
Casting genius.
Vote:May 12th, 2008 at 10:53 am
mmm..!!!..’whistle’..!
can i have a clipboard..?..too..?
‘& (sic) et al’ will be there too..!..y’say..?
phil(whoar.co.nz)
Vote:May 12th, 2008 at 10:59 am
Thats right Phule.
et = eco terrorists
al = all labour
Socialist paradise rollin, rollin.
Vote:May 12th, 2008 at 11:01 am
a bit ‘laboured’ there..?…chicky..?
phil(whoar.co.nz)
Vote:May 12th, 2008 at 11:08 am
Well looking at our comment totals it’s obvious I’m a bit ‘green’ compared to you phule.
chicky(batteryhensrule.co.abc)
Vote:May 12th, 2008 at 11:20 am
it’s been a long three years..chicky..
and so-so much bullshit to ‘see off’..in that time..
so-so many ‘frothers’ to ‘hose-down’..
phil(whoar.co.nz)
Vote:May 12th, 2008 at 11:37 am
The fundamental problem here is that under Labour/greens mismanagement many of the new jobs created in the last decade have been of the “easy come – easy go” variety.
Vote:Jobs that only service our own internal consumption.
Real jobs that actually create wealth have been shipped offshore faster than Cullen can write a cheque.
May 12th, 2008 at 11:57 am
aye, what bwakile said
Vote:May 12th, 2008 at 12:40 pm
If there was ever a requirement to mount a cogent argument as to how out of touch the Labour Government is with the New Zealand public, Ruth Dyson’s reaction to the loss of TWENTY NINE THOUSAND jobs should form a cornerstone of that argument.
Vote:May 12th, 2008 at 12:45 pm
Oh, slightly off topic, but related to jobs. I have been talking to someone who is about to receive a long overdue sizeable pay rise. He is in the military, and is going to get the 10% pay rise as idicated by Phill Goff on Agenda the other week.
He also has 6 children, and is currently receiving Working for Families.
The Pay rise will place him over the threshold for WFF, so he will have to forego his “Tax Credits”
But his pay rise does not actually cover the amount he will lose. So, he will receive a 10% pay rise, and actually be WORSE OFF!
The Labour Government at work again!
Vote:May 12th, 2008 at 1:01 pm
Good to see the “news” papers still have such clear opinions about what sort of government they want…
Vote:May 12th, 2008 at 1:46 pm
Looks like pigeons coming home to roost?
Vote:May 12th, 2008 at 1:49 pm
Under a DAFT government there would be no unemployment. We would ensure a job for every person in NZ. Even Blanket Man, and the hobo that came up to me and Keith Ng last night and offered to sing for us so he could buy some tucker (the bum that is, not Keith). We would do this by making all unemployed people legally responsible for student debt (see our student debt policy), as well as some yet to be released policies which shall come out later in the year.
Vote:May 13th, 2008 at 12:03 pm
A good chunk of those job losses are female exits from the labour force. If this is because of Working For Families effectively increasing the marginal tax rate facing second earners, then we have a likely long term downward shift in labour supply. That suggests we need worry less about a cyclical downturn and more about longer term wage pressures. We’ll see if the next labour force survey shows a continuation of the trend….
Vote: