OECD raises doubts on job market health (shorter of the two articles)
http://www.smh.com.au/small-busines...ubts-on-job-market-health-20100713-108cx.html
Thanks Timmy, for that article.
1 in 5 people of prime working age has no job. I think it is safe to say the official number labelled "unemployment rate" is so far skewed as to be useless for anything. shadowstats puts their count of the unemployment in the US just above 1 in 5 while the government there reports at half of that.
Discouraged workers all over the world are taken off the "unemployed" register, just to goose the numbers, so pollies can say they reduced unemployment in an election year
There are several studies which have been done, one by the ABS that shows generally in any form of recession when the prime age male workforce (not sure why this does not also apply to women, but it doesn't seem to) becomes discouraged workers it is difficult or even impossible in some cases to return those people to the workforce, even long after the recession is over.