# US vs. Australian Unemployment



## condog (9 November 2009)

15 Million unemployed in US and still rising????

Check out this graph from http://bilbo.economicoutlook.net/blog/?p=1160




Not sure exactly when this graph produced but its currently up around 10-11% depending which figures you trust... and we are 5.7%

This shows good old USA with its incredible debt and low productivity in a very bad position relative to us????

Whats your thoughts ....


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## psychic (9 November 2009)

*Re: US v Aust Unemployment*

Unemployment rates wil rise significantly is Australia as the GFC unwinds it ugly head.  There is a few more years of this to go yet.  There is a significant chance that the world will slip into a another recession (double-dip) and this time Australia will not escape.  2010 will be a significant year for the markets with another major leg down on its way


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## Agentm (9 November 2009)

*Re: US v Aust Unemployment*

just enjoy the ride while it lasts.

not sure if the fed will ever face the opportunity of printing the $1.4 quadrillion in notes which remarkably hold some value on todays markets.. but i think unemployment may be the least of your concerns when that happens..


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## Agentm (9 November 2009)

*Re: US v Aust Unemployment*

this might explain things just on the side of how good things are going to plan for obama


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## Temjin (9 November 2009)

It's also interesting to see that the correlation in unemployment rate between the two countries have been quite significant positive since the 1960s. 

So if anyone really expect this correlation to disappear altogether, for whatever blinded, unrealistic optimism, then the history is certainly against you. (i.e. Australia will see unemployment to drop while US continue to rise)


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## Bushman (9 November 2009)

condog said:


> Whats your thoughts ....




Weaker USD will eventually start to help US manufacturing. 

Aussie numbers are boosted at present due to 'under employment' as businesses try top ward off the next skills shortage by cutting hours rather than 'down sizing'.


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## condog (9 November 2009)

*Re: US v Aust Unemployment*



Agentm said:


> this might explain things just on the side of how good things are going to plan for obama




Wow, thats a cracker of a graph, I have not seen that one.....

Thats alarming and possibly highlights  why GOLD is skyrocketing, because the US is heading back to the printing press real soon...


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## Aussiejeff (10 November 2009)

*Re: US v Aust Unemployment*



condog said:


> Wow, thats a cracker of a graph, I have not seen that one.....
> 
> Thats alarming and *possibly highlights  why GOLD is skyrocketing*, because the US is heading back to the printing press real soon...




Maybe more to do with ChIndia buying up the glitter bigtime?

Anyway, who cares about "unemployment"? Wall Street is about to unleash a thunderous downpour of Big Bank Billion Dollar Bonuses. http://www.bloomberg.com/apps/news?pid=20601109&sid=acKzkgNEhfXI&pos=11  It's party time again...... 

Wheeeee!


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## joeyr46 (22 November 2009)

Temjin said:


> It's also interesting to see that the correlation in unemployment rate between the two countries have been quite significant positive since the 1960s.
> 
> So if anyone really expect this correlation to disappear altogether, for whatever blinded, unrealistic optimism, then the history is certainly against you. (i.e. Australia will see unemployment to drop while US continue to rise)




I would have said that we were a year or 2 behind them as one would expect given our resource base and our reliance on the construction industry which ios just about to have major problems if you read between the lines


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## sinner (22 November 2009)

Real US unemployment figures even scarier.

From shadowstats.com




22% unemployed?!


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## Aussiejeff (23 January 2010)

No letup in burgeoning US under/un-employment yet.....



> Jan. 22 (Bloomberg) -- *Employment dropped in 39 U.S. states in December, seven more than in the prior month, indicating job losses were widespread. *
> 
> Payrolls in California showed the biggest decline, falling by 38,800 last month, according to figures issued today by the Labor Department in Washington. Texas followed with a 23,900 decline and Ohio was next with a 16,700 drop.
> 
> With the national unemployment rate projected to average 10 percent this year, state budgets may continue to be strained by limited tax revenue and jobless insurance payments. While the pace of firings has eased over the last year, the time it is taking to find a job rose to a record 29.1 weeks in December.




and from the same article....



> *Exceeding 10 Percent*
> 
> The number of states with at least 10 percent unemployment climbed to 16 last month, two more than in November, today’s report showed. Mississippi, with a jobless rate of 10.6 percent, and New Jersey, at 10.1 percent, joined the list. New Jersey’s rate was the highest in 32 years.
> 
> ...




http://www.bloomberg.com/apps/news?pid=20601087&sid=aNZFxL6vFWZE&pos=7

Somewhat sobering figures to counterbalance the recent market euphoria IMO.


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## Garpal Gumnut (23 January 2010)

The true unemployment rate in the US is much, much higher as they do not count prisoners in gaols, mentally ill in State care, or unemployed illegals.

gg


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