A 10 year high in unemployment

February 5th, 2010 at 9:17 am by David Farrar

The recession may technically be over, but it sure as hell has a nasty sting in the tail with the December quarter rate hitting 7.3%.

The worse case scenario is that we are barely out of recession at 0.2% quarterly growth, and unemployment may rise more in further quarters. That will add to the pressure on the Government to “create jobs”, even though in reality it is the private sector that creates job. The role of the Government is to have the economic environment optimised for job growth.

One can advocate the Government “creates” jobs by increasing spending. However when we are already borrowing $240 million a week just to keep current spending going, I don’t think greater borrowing is the answer. The answer is higher levels of economic growth.

Let’s look at the numbers for the quarter:

  • Total employed dropped by 2,000
  • Total unemployed increased by 18,000
  • Hence labour force increased by 16,000
  • Those not in labour force also increased by 4,000, so total working age population up 20,000
  • Unemployment rate up 0.8%
  • Under 20 unemployment rate up from 25.1% to 26.5%
  • Maori unemployment rate up from 14.2% to 15.4%
  • Job growth in primary production, mining, construction, wholesale trade, retail trade and IT/comms.
  • Job losses in manufacturing, utilities, and transport
  • Total jobless increases from 254,000 to 276,000 – this includes 86,000 not seeking work and 31,000 not available for work.
  • Underemployment (those seeking more hours) drops slightly from 122,000 to 115,000.

Now I want to look specifically at youth unemployment:

This graph shows unemployment rates for the two youngest age groups. Those aged 15 to 19 and those aged 20 to 24. Traditionally the 15 to 19 year old group does have higher unemployment, reflecting their lacks of skills and experience. But the brown line shows that the gap between the two age groups averaged 6% from 1985 to when youth rates were abolished in 2008.

But currently, the gap is a whopping 14%. And I do not think it is a coincidence. Young New Zealanders have been priced off the workforce. The impact of this recession on 20 to 24 year olds is much less severe than in 1991, but the impact on under 20s is more severe.

It is also common sense. A 15 year old or even 17 year old is often not worth $12.75 an hour (let alone $15 an hour). At that age what they most value is being to have a job at all, so they gain skills and experience. This is what will help lead them (along with education) into higher paying jobs.

Abolishing the youth rates for the minimum wage is not responsible for the overall level of unemployment – that is the lack of economic growth due to the recession from Jan 2008 to Mar 2009, and the weak growth since.

But I think there is a strong case for the abolition of youth rates is responsible for why under 20s have been hit so much harder by the recession than any other age group.

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57 Responses to “A 10 year high in unemployment”

  1. Brian Marshall (181 comments) says:

    “One can advocate the Government “creates” jobs by increasing spending. However when we are already borrowing $240 million a week just to keep current spending going, I don’t think greater borrowing is the answer. The answer is higher levels of economic growth.”

    Yep, the labour and unions have already started harping on about National not spending enough and not in the right area, but did I hear the interviewer on the radio ask where that money will come from????????

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  2. KiwiGreg (3,129 comments) says:

    Employment is a lagging indicator. Even if we were growing unemployment would be increasing at this stage of the cycle.

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  3. m@tt (535 comments) says:

    So can someone please tell me what money the government is spending on helping reduce unemployment?

    I mean… there must be some kind of spending somewhere on some plan that is designed to help get thousands or maybe even 10′s of thousands of people back into jobs. Surely? We had a job summit that was a do-fest didn’t we?

    [DPF: It is borrowing $240 million a week on maintaining employment in health, education, infrastructure projects etc. Why don't you tell us how much more you want to borrow, and how you plan to pay it back]

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  4. dime (8,790 comments) says:

    quick question – at what point does the “good of the nation” out weigh a political promise by JK not to cut govt spending??

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  5. Nefarious (533 comments) says:

    dime – about 10 years ago.

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  6. YesWeDid (1,003 comments) says:

    And in breaking news John Key announces that the minimum wage has been dropped to 5c per hour and all those people currently listed as unemployed will be forced to ‘do the gardens for the rich folk’ who actually have real jobs.

    Key went on to say ‘just wait until next months figures are out, then you’ll see how good this government is’.

    Key then went on to discuss the ‘new flag’, ‘how wonderful his children were doing at school’ and a great photo he recently saw.

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  7. pollywog (1,153 comments) says:

    how could i find out what the break down of polynesians (inclusive of maori) are in the jobless youth stats and on the dole ?

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  8. Pete George (21,831 comments) says:

    The lack of youth rates contribute but here they are just a side issue (diversion?)

    The increase over the last year is a natural result of the recession. Less people going overseas, more people returning due to fewer job opportunities especial in the UK, and many companies cutting back on employment here. And add to that the normal exodus of people from employment at this time of year, which will reverse to an extent at least in the next quarter or two.

    Tough times are tough, the recession was always going to hit employment and we just have to work our way out of it, as more jobs become available.

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  9. polemic (316 comments) says:

    Where is all the money and the jobs that the last government gathered up over 6-9 good economic years????

    Oh that’s right it never fostered real economic self supporting jobs. It just continued to increase taxes and increase public sector jobs and falsely create low unemployment figures.

    Real job creation can only be fostered by increasing and improving the economy that then promotes the private sector to expand their sales and production.

    Also creating infrastructure actually provides jobs as well as creating improved economic conditions to grow more industry to grow more jobs.

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  10. dime (8,790 comments) says:

    ok, how bad a hit would we take if we gave a decent tax cut and kept public spending at the same level?

    we are borrowing a billion dollars a month???

    a decent tax cut costs about 2 billion.. so whats the freaking difference???

    ALL IN MOFO’S!

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  11. Dr. Strangelove (39 comments) says:

    It’s also worth noting the long term consequences of a high youth unemployment rate. Young people who miss that first step into employment often wind up on a track of permanent unemployment because, as their history of unemployment grows longer, they become less attractive to employers, and they settle into a lifestyle and a set of habits that does not fit well with work.

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  12. excusesofpuppets (133 comments) says:

    Yeah, Hi! Ummm no matter how it is painted, unemployment is still climbing under over a year of National…Over that 7% ceiling that was touted. John Key is a lovely man and all (serious), but most his little cabinet friends were the reason why I didn’t vote National; because they talk smack, but I knew that they couldn’t (not WOULDN’T) really deliver.

    I didn’t vote Labour for much the same reason. And this is why National have absolutely nothing to worry about, because the Labour party right now is an absolutely, shambolic joke.

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  13. Jeff83 (765 comments) says:

    There was a similar gap in 94 no?

    Personally I think the abolishment of youth wage was stupid, but my main concern is the 20 – 24 year old bracket as this is the age when you really normally begin your career and start building skills.

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  14. mavxp (490 comments) says:

    The new age of austerity is upon us.

    Tighten belts, cut government spending, reduce consumer debt, and for heavens sake drop the value of the dollar so we can export our way out of this mess.

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  15. big bruv (12,388 comments) says:

    Ten years ago I would have been shocked at these number, now I do not give a fuck.

    After being financially raped by the Klark/Kullen government for nine of the last ten years (and it continues under Neville Key and the National Socialist government) I have lost all compassion for those on the (long term) unemployment line.

    By nature Kiwis are giving people, most of us have a concern for our neighbours and will always lend a hand, but when you have watched the government steal more than they need from you for ten years and use that money to buy votes you become hardened.

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  16. Manolo (12,644 comments) says:

    “.. because the Labour party right now is an absolutely, shambolic joke.”

    The opposite is also true: the neo-socialist National Party right now is an absolutely, shambolic, pathetic, and sad joke.

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  17. dime (8,790 comments) says:

    if National cut the top tax rate to 30% right now, how long will it take to get the tax take back to the same level? surely the pie will grow!

    i know the extra thousands id retain would go into investments.

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  18. toad (3,654 comments) says:

    DPF: It is also common sense. A 15 year old or even 17 year old is often not worth $12.75 an hour (let alone $15 an hour). At that age what they most value is being to have a job at all, so they gain skills and experience. This is what will help lead them (along with education) into higher paying jobs.

    But I think there is a strong case for the abolition of youth rates is responsible for why under 20s have been hit so much harder by the recession than any other age group.

    According to the Government Statistician:

    There were also marked differences in the unemployment rates by ethnic group. The unemployment rate remains high for the Māori (15.4 percent), Pacific peoples (14.0 percent), and Middle Eastern/Latin American/African (17.1 percent) ethnic groups, while the unemployment rate for the European ethnic group stands at 4.6 percent.

    So would that justify having a lower minimum wage for certain ethnic groups as well DPF?

    That sort of reasoning leads us to a very unpleasant place indeed.

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  19. dime (8,790 comments) says:

    Toad – why is it always the left in this country who want to target ethnic groups?

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  20. big bruv (12,388 comments) says:

    Toad

    “So would that justify having a lower minimum wage for certain ethnic groups as well DPF?”

    No, it justifies having no minimum wage at all.

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  21. Clint Heine (1,560 comments) says:

    Labour left it in tatters, and Key has not yet fulfilled the promises he gave before the election – to follow through with Nationals belief in free enterprise, low taxes, less bureaucracy, less waste….. classical National policies that were chucked aside to become a populist Labour Lite and carried into Parliament by Rodney Hide and ACT.

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  22. ephemera (563 comments) says:

    @toad

    As in, “Yes massa, I sure is grateful for this job…one day I might work in the house”?

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  23. Kimble (4,095 comments) says:

    “So would that justify having a lower minimum wage for certain ethnic groups as well DPF?”

    toad, take that racism card and stick it back up your arse.

    The consequences of your policy of removing youth rates have been that youth unemployment has shot up. That increase is likely to be structural, and will persist even during good economic times. More young people are unemployed and will be unemployed because of the policy you support. Get it? You have made some people better off at the expense of others.

    The consequences of that unemployment are not going to be seen for a decade or more but arent too difficult to predict. More young people are going to lack the work experience they once would have gained, making them less attractive as employees. This mean they get worse jobs than they otherwise would have. This in turn will affect the jobs they get into the future and for the rest of thier lives.

    Well done you communist dick, that lovely policy of yours just lead to a widening of inequality.

    That nice feeling you got when this policy was adopted was paid for by the standards of living of future generations. You stole some standard of living from them to give yourself a cheap thrill. Do you lefties ever wonder why people think you are childish, selfish, self-absorbed wankers?

    You probably think that the ideal solution would be to tax those that are working to pay benefits to the ones that arent. The retarded thing is you dont see anything wrong with that. You cant even see how unsustainable that is.

    You cant even see the irony that your policy to make things better will end in one group of people having to work harder to pay for other people to have a lower standard of living!!!

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  24. Redbaiter (13,197 comments) says:

    Don’t worry, the cycle track is under way. (isn’t it?)

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  25. KiwiGreg (3,129 comments) says:

    “The consequences of your policy of removing youth rates have been that youth unemployment has shot up. ”

    But Kimble cant you see that the impact of that would be felt by ethnic groups which have a relatively high proportion of youth like Maori, Pacific Islanders and non-Asian immigrants…..oh wait.

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  26. s.russell (1,486 comments) says:

    Labour and the unions simply do not believe that ability in the job should have anything to do with how much people get paid.

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  27. Redbaiter (13,197 comments) says:

    Oh and by the way- Now that we have a post on unemployment figures, maybe the left wing retards who are in the end really to blame for what is occurring can stop their incessant and irritating whining about the lack. Worse than a plane load of poms.

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  28. spector (180 comments) says:

    I’m a partner in a food service business in the middle of town that has run in the red for 8 of the last 12 months. This has meant that all the partners involved have had to work at other jobs to make enough money to keep the place afloat. The amount of customers we’ve had has dropped by about 37% and two other similar businesses in our area have already closed their doors. We’ve reduced the number of staff, but if a staff member leaves of their own accord and we need to find a replacement then anyone between 15-17 doesn’t get a look in as there are huge amounts of 20+ students living in our area that need work to pay rent and survive at university. If there was still a youth rate then I guess we would have to have a look at how much money that would save us a week, but to be honest I suspect we’d still hire Uni students purely because they are more mature. Our problem is not staff as there are plenty of great older people out there to employ if when we need to.

    What would make a real difference to us is a reduction in outgoings for rent and stock. However, even though there has been a recession rent prices have gone up not down as has the cost of ingredients. Because we have a reduced number of customers passing on these extra costs is not an option as that would lead to even less customers. The rents remain high because all the properties in the area are owned by half a dozen people who have enough equity in the properties that they can afford to have several vacant (which they write off against tax) rather then lower the rents. The ingredients costs remain high as some of them come from offshore and the ones produced locally are in high demand as exports so there is little incentive for suppliers to lower prices.

    Our only course of action is to increase our customer base (which is starting to happen) and to keep a lid on outgoings as much as we can. Then once we start to trade in the black more frequently it will still take us a year just to recover our losses just to break even so there will be no pay rises for any staff in the foreseeable future and we will only be hiring staff that can do the work of two people as we will have to run understaffed just to stay afloat.

    I imagine we are not the only SME in the country in this situation and I suspect actually most are. And seeing as most of NZ’s businesses are SME’s I can’t see unemployment levels for young school leavers changing for the next two years, I think they’ll get worse.

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  29. Fale Andrew Lesa (473 comments) says:

    The National-led government seems to lay square blame on “population growth”…

    So much for the “economic experts” we thought we were voting into office.

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  30. m@tt (535 comments) says:

    [DPF: It is borrowing $240 million a week on maintaining employment in health, education, infrastructure projects etc. Why don't you tell us how much more you want to borrow, and how you plan to pay it back]

    Who said anything about borrowing more? I want to know exactly what job initiative’s they are currently spending on, and what the expected levels of job creation from that spend are.

    Is it just a cycleway, or is there something else, new, that would not have been done anyway?

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  31. LC (162 comments) says:

    Spector that is a great summary from the grass roots of our economy as to what is really happening out there. The worry for our politicions is that many other SMEs will also be making the same decisions of not employing anyone for 2 years.

    Hint to our Government – if the govt is not prepared to employ people, then private enterprise has to. What are you going to do to help SME’s either survive, or grow?

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  32. Redbaiter (13,197 comments) says:

    ” I want to know exactly what ”

    Well fuck off and find out then. Neither Mr. Farrar or anyone on Kiwiblog is compelled to deliver on “what you want to know”.

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  33. m@tt (535 comments) says:

    If someone is going to suggest the government is doing something, then they should be prepared to back it up with some evidence. So no I won’t fuck off and find out. Instead I’ll challenge the spin and ask for some substance.

    If you don’t like that then you can fuck off and find someone who gives a shit.

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  34. mpledger (428 comments) says:

    I would say that the biggest change since 1991 is that the introduction of student loans. University students need work to minimise the size of the loan they need to take out. It means that 15-19 year olds are competing with university students for the same jobs (hospitatlity, retail etc).

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  35. Viking2 (10,749 comments) says:

    By the very terse comments that DPF has made earlier on this subject it would seem that the questions over the Nats. policy are well justified.

    # m@tt (18) Says:
    February 5th, 2010 at 9:29 am

    So can someone please tell me what money the government is spending on helping reduce unemployment?

    I mean… there must be some kind of spending somewhere on some plan that is designed to help get thousands or maybe even 10’s of thousands of people back into jobs. Surely? We had a job summit that was a do-fest didn’t we?

    [DPF: It is borrowing $240 million a week on maintaining employment in health, education, infrastructure projects etc. Why don't you tell us how much more you want to borrow, and how you plan to pay it back]

    Now DPF we , the bloggers didn’t make all sorts of promises so don’t attack us for asking these questions. We, the bloggers and others elected MP’s and in particular a PM who for four years told us that they (the Nats. ) knew what to do. The reality is the the only Minister so far to out perform our expectations has been Tony Ryall. He has by your own words the most difficult portfolio in cabinet. He loves it, spent the NINE LONG YEARS in opposition learning and conversing with the participants in the system and that’s why he is making good progress and getting results. On the other hand your favourite Nat. lite spent nine years making noise about finance and what NZ needed, worked out how to rort the system but has failed dismally to understand the issues and failed even more to make change. Worse it seems he is now intent on attacking the property sector with its half million or more voting investors rather that attacking the largess that is bestowed upon the education sector , in particular the universities and the student loan deal and the welfare sector or even more importantly making changes that will assist SME’s. Indeed we have been lumbered with an ETS to make all our situations worse.
    So before you attack those that should be your constituents think carefully, for to behave that way is exactly what Clark did, and you certainly were one to despise that attitude.
    Don’t attack our message, pass the results onto those that are responsible for determining why we are putting out that message.

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  36. Spam (586 comments) says:

    And in breaking news John Key announces that the minimum wage has been dropped to 5c per hour and all those people currently listed as unemployed will be forced to ‘do the gardens for the rich folk’ who actually have real jobs.

    Shortly after this announcement, it was found that the poor refused to work doing gardening for the rich at 5c / hour, although some rich were prepared to pay $13 / hour, and several thousand unemployed entered into privately negotiated contracts on this basis, and actually found out that they were better off after considering that they no longer had to pay union fees. Several of these people took the initiative to create their own gardening franchises, and are now employing other people.

    With the abolishment of the minimum wage, many firms had the confidence to take on more staff. They soon found that most simply would not work for less than $10 and hour, although many students would. Student unemployment therefore decreased significantly. While it appeared that hiring students for less was causing increased unemployment in the older demographics, it was soon fairly evident that many employers would pay a slight premium for more experienced staff that required less supervision and training and that many employers wanted employees to be available at times that students simply weren’t. Not to mention that many of these were actually “new” jobs that simply wouldn’t have existed at a high minimum wage rate.

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  37. Bevan (3,965 comments) says:

    If someone is going to suggest the government is doing something, …

    Who is suggesting the government is doing something?

    The only thing DPF said was that the government should establish the conditions for Private enterprise to create jobs.

    Unfortunately your left wing infected mind cannot comprehend that to reduce the level of unemployed without costing the country billions more in debt, it is the private companies that need to be stimulated into hiring staff. Oh and reversing the law and re-implementing youth rates wouldnt hurt either!

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  38. Kimble (4,095 comments) says:

    Good retort Spam. I disagree with the rosy outcome a little but the tone was perfect.

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  39. Komata (975 comments) says:

    Sadly, the unemployment figures are misleading and as with all statistics, to be looked-at with caution, as they do not, (indeed cannot), include those who are not eligable for the Unemployment Benefit because there is a (single) wage earner in the house with an income that exceeds the income level for the U/B . These ‘unreported’ unemployed would include students who are waiting to return to uni, adults who cannot get work etc, etc, etc – all those individuals who, through no fault of their own are unemployed within a single-income, family with a wage (no matter how small) that is above the Winze income-threshold.

    As these people will never go near the Winze offices, since they know they will never be eligable for the Unemployment Benefit anyway, there is no way of knowing how many there actually are.

    Based on this fact the Unemployment figure must inevitably be far higher than published, but, as noted, no-one can ever know.

    Just a thought, but, IMHO, a relevant one.

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  40. m@tt (535 comments) says:

    @Bevan
    I love the way you guys extrapolate detail from a single post that is just plain false. Your biggest mistake would be the left wing comment.

    You see. According to DPF’s figures above “Total jobless increases from 254,000 to 276,000 – this includes 86,000 not seeking work and 31,000 not available for work.”

    That makes 159,000 people collecting the dole that should be working. Now using a conservative average figure of say $170 per person; thats $1,405,560,000,00 (1.4 Billion) dollars per year of tax payer money that the government is spending. Hell even if we assume that every single one of those people is under 20 and living at home (A dole figure of $126), it’s still over one billion dollars.

    I want to know what the governments plan is to reduce that expense which is paid straight out of our tax dollars. Pretty simple question really. Isn’t it?

    At the moment the only plan I see is to sit and wait. Really living up to the ‘Do Nothing’ tag aren’t they.

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  41. Pete George (21,831 comments) says:

    They did last year m@tt. It’s debatable whether it was too little or too much or about enough. But it’s too late to do much more now.

    It’s hardly surprising that “a 10 year high in unemployment” follows the biggest global economy hiccup in nearly a century. It takes time to grow back out of troughs.

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  42. Bevan (3,965 comments) says:

    m@tt, its easy to tell that you are left wing as you want the government to solve the problem. Government cannot solve the problem, only private enterprise can.

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  43. Fisiani (861 comments) says:

    So we have a far lower unemployment rate than any OECD country that has been in recession.
    This is cause for celebration.
    We are strongly poised to rebound. Bring on surgical mining ASAP.

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  44. big bruv (12,388 comments) says:

    Spector

    Chin up mate, I know exactly what you are going through as I have been in the same position in the past.

    Keep at it, if you are offering a good service and a great product then the good times will return.

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  45. m@tt (535 comments) says:

    @Bevan so you are quite happy to sit there while the government pours over a billion dollars into an ambulance at the bottom of the cliff solution, simply because you are ideologically opposed to them contributing to a solution? Talk about cut your nose off to spite your face.

    Perhaps the government could do something to help out private enterprise. How about the actually bring back youth rates. that’d be doing something at least. Are you opposed to that, or is that government interference in private enterprise?

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  46. big bruv (12,388 comments) says:

    “Perhaps the government could do something to help out private enterprise”

    Never happens…..unless you are a Farmer.

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  47. Viking2 (10,749 comments) says:

    or a lawyer or hocked into the treaty train

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  48. Pauleastbay (5,030 comments) says:

    Peter George- Nice to be able to agree with you for once.

    It will take time to come out of the last 18 months or so. Also those stats published can be e from data gathered up to two months prior to publication and things have picked up business wise into this year.

    One of the reasons with recession ended so quickly was due to really quick action by governments, – I put this down to the technological age we now live in, information was gathered quickly and efforts were made to stop the bleeding as fast as possible . This simply was not possible in previous major recessions.

    No prime Minister can work miracles in an economy as small as ours in such a short space of time, we are such a small place many NZers don’t realise our economy is not that a a decent size US or European City.

    Also those stats do not take into account the huge number of our fellow countrymen who are totally unemployable, there are people out there who as long as their backside point to the ground will never work in their entire lives. These are the Harris family types from Christchurch, they wil take tax dollars for every breath they take for ever.

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  49. Viking2 (10,749 comments) says:

    Well perhaps you should read the Australian tonight.

    http://www.theaustralian.com.au/

    http://www.theaustralian.com.au/business/markets/shares-lose-30bn-on-europe-debt-fears-us-job-figures/story-e6frg916-1225827224585

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  50. Viking2 (10,749 comments) says:

    And here is why both Aust. and by implication NZ will now still have an uphill road. Union controlled labour.

    http://www.theaustralian.com.au/business/mining-energy/rio-tinto-warns-of-pilbara-industrial-relations-war/story-e6frg9df-1225826908285

    and note the bit that tells of seamen getting a $50,000 rise.

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  51. Viking2 (10,749 comments) says:

    http://www.theaustralian.com.au/news/nation/julia-gillard-calls-time-on-young-matthew-spencers-job/story-e6frg6nf-1225826908331

    Why govt. should get the hell out of peoples lives.

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  52. Johnboy (13,439 comments) says:

    That’s what happens when you let fuckin socialists run the government. Sad pricks.

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  53. Viking2 (10,749 comments) says:

    Wonder if this will spread and arrive in the colonies?

    http://www.smh.com.au/news/entertainment/arts/whooping-clapping-and-stripping-triumphantly/2010/02/04/1265151940567.html

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  54. Viking2 (10,749 comments) says:

    Greenpeace protesters punished

    by Sandra Conchie | 5th February 2010

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    Give us your thoughts on this story.

    The Greenpeace protesters who illegally boarded a cargo ship waiting to dock at the Port of Tauranga have settled a dispute over reparation, handing over a cheque yesterday for $31,648.88.

    The reparation bill had originally been set at $112,000.

    The 14-hour drama began at 6am on September 16 when 14 activists boarded the East Ambition as it anchored offshore.

    The protesters prevented the freighter, which they claimed was loaded with palm kernel animal feed from Indonesia, from entering the port.

    Using titanium chains and armed with hammocks, sleeping bags and enough food to last 48 hours, the protesters secured themselves to parts of the vessel.

    Police said the protest action, which was aimed at convincing Fonterra to halt its importation of palm kernel from Indonesia because of that country’s role in the destruction of rainforests, was well organised.

    Read more in today’s Bay of Plenty Times

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  55. Inky_the_Red (719 comments) says:

    Pollywog
    The thhnic breakdown of the HLFS is available on infoshare on the http://www.stats.govt.nz
    this might be the link
    http://www.stats.govt.nz/infoshare/SelectVariables.aspx?pxID=be52d022-4ae2-4c9b-83e1-5fdb96bb7a56

    European Maori Pacific Peoples Asian
    Dec 07 2.5 7.5 5.7 5.3
    Mar 08 3.4 8.9 8.2 5.7
    Jun 08 3.1 7.3 6.3 5.1
    Sep 08 3.4 8.2 7.3 4.6
    Dec 08 3.5 8.6 7.8 6.1
    Mar 09 4.5 11.2 13.1 6.9
    Jun 09 4.5 12 12.9 7.6
    Sep 09 5.0 13 13.2 8.4
    Dec 09 5.3 14.8 14.3 9.1
    Not these are actuals not the headline seasonally adjusted unemployment rates. But then so are the age group figures in David’s graphs

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  56. pollywog (1,153 comments) says:

    Thanx Inky…doesn’t make for good reading nor bode well for the future of polynesians (inclusive of maori).

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  57. Dirty Rat (504 comments) says:

    I thought this stat was the most important as it is the most reliable directed towards GDP.

    Total hours worked – seasonally adjusted
    The total number of actual hours worked per week decreased by 0.4 percent during the
    December 2009 quarter to reach 70,907,000 hours. The number of usual hours worked per week
    increased slightly during the same period, up by 0.1 percent to 78,565,000 hours. On an annual
    basis, both the total number of actual and usual hours worked per week decreased by 3.2
    percent and 2.2 percent, respectively.

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