Blame the computers all you like, but also acknowledge that the 10 years of distorted markets due to trillions spent on quantitive easing has created a perfect storm where the AI of the computers becomes ruthless with the greed of the humans.
All unemployment data from Statistics NZ should therefore be treated with caution. Unemployment is likely to be much higher than Statistics NZ figures indicate.
This blogger previously reported how Statistics NZ recently implemented a so-called “revision” which would materially affect how unemployment stats were counted and reported;
Apple collapsing almost 2.5% in extended trading post their uninspiring results at a time when the stock market is looking to burst is grim on the eve of Black Friday.
A prediction. On the basis of the sluggish Auckland rental market, the end of the Auckland property bubble could be sooner rather than later. (I’m picking October 2017, a month or two after the 2017 general election.) The ‘correction’ will come when enough people who have bought in Auckland for capital gain realise that they will have to sell soon, or risk the consequences.
Unions can expose the hypocrisy of employers demanding the right to import labour while paying a pittance to their staff. But ultimately, the only effective way to turn the situation around is to reunionise the sectors of the workforce that have lost union protection and force the bosses to pay.
The key question of Robertson’s FoW inquiry has been: What must Labour do to guarantee employers a steady supply of productive workers as New Zealand and the rest of the world enters the so-called “Fourth Industrial Revolution”?
So by the numbers, for this year;
Continued from: 2015 – Ongoing jobless tally
So by the numbers, for this year;
Most NZers have Kiwisaver now, which means the meltdown impacts you if your money is invested in the stock market. The only Kiwisaver option you can choose which removes you from the stock market altogether is opting for the cash rate. You can do this on your banks website.