My recent articles from November and December 2015 suggest the Australian unemployment figures were incorrect and had nothing in relation to the actual unemployment figures. The unemployment figures sprouted by countries around the world are in fact doctored to look better than they actually are. This is done by changing the attributes that the figures rely on. For instance now if you are 15 years old and above and have a part time job after school you are considered employed and are counted in the participation rate. Conversely if you are 15 years old and above and do not have a part time job after school you are not counted in the participation rate so this actually adds to the employed people.
Zerohedges article titled “Australia stops cooking its jobs report and the result is a disaster: Full time jobs plunge most since 2013” has noted that the actual number of full-time jobs lost for the period is 40,600. The problem according to Australias Treasury Secretary John Fraser was “technical issues”.
With the global economy on a huge downturn it looks as though the Reserve Bank of Australia will have to lower the countries interest rate to keep it all propped up for a bit longer. We once again may see some more measurement changes that occurred internationally in 2014. These changes only mask the truth for a certain amount of time with the reality to come akin to walking into a brick wall.
Thank you to zero hedge for their article on Australia.