Interested to know what this means for Australia - Recession?

Discussion in 'Politics' started by Lizzie, 17th Jul, 2019.

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  1. random

    random Well-Known Member

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    l thought the Us manufacturing was booming , heard Trump a few times saying how he wants to bring it back for their country, great for any country if he could. Then today hear their unemployment is down to 31/2 % so l figured they must be doing really well actually, l mean that's low isn't it.
    Now you mention their dept , yikes , sounds like a few bucks even for the US.

    One things for sure Trump has more lives than 10 cats , don't think we've ever seen so many people after a Pollii , well Howard came close but Trumps taking the cake.
    Not that l'm comparing Australia in any way shape form to the US , but just sayin, Howard did have a lotta lotta people trying to get him out for a longgg time. Somehow the slimy little bugger just dodged it all unscathed every time , but she got him in the end God bless her.
    Hard to believe Trumps somehow still in there though isn't it.
     
    Last edited: 5th Oct, 2019
  2. Lizzie

    Lizzie Well-Known Member

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    Manufacturing did return - just most of it was automated (which is why it returned - didn't need cheap labour any more). But now that people don't have as much to spend, they aren't buying what is being manufactured - and it's not going to China either.

    Rather like Australia - the US government is very good at fudging the true unemployment figures ... this is a good article (and follow the links to U3 and U6) - which also doesn't include those who have been pushed aside to disability or other forms of welfare to get them off unemployment

    U3 vs. U6 Unemployment Rate: What's the Difference?

    "To calculate the official unemployment rate, the U-3, the BLS divides the total unemployed by the total labor force participants. For example, the June 2019 monthly rate report indicated that the total number of people that were unemployed was 5.975 million and the civilian labor force consisted of 259,037,000 people. The unemployment rate was, therefore, calculated to be 5.975/259.037 = 3.7%.

    In the same June 2019 report, people that were marginally attached to the labor force was 1.571 million. The total number of workers with part-time jobs for economic reasons was 4.347 million. When calculating the U-6 rate, the marginally attached group is added to both the numerator (total unemployed) and denominator (total labor force). In addition, part-time workers are added to the numerator only, since they have already been included as part of the labor force. The real unemployment rate, U-6, in June 2019 was 7.2 percent."
     
    Last edited: 6th Oct, 2019
  3. Lizzie

    Lizzie Well-Known Member

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  4. random

    random Well-Known Member

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    The real unemployment rate, U-6, in June 2019 was 7.2 percent."[/QUOTE}



    Ahh right , yeah tbh l'd imagine that would be the more like the real story.
    l believed thing must have been doing pretty good there though because their products are really getting out into the world again, especially their cars.
    l'd assume that would be a great sign for any country considering we can't even build cars , or much else either actually , here.
    l also saw something like that calculating their "real", debt, to way way way more than what is really put out.
    l mean this was a huge amount of money in anybodies language , can't remember the number but it was like 10x
     
  5. random

    random Well-Known Member

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    ln a most American forum the other day and one of them said their economy now , is the best it's ever been.
     
  6. MTR

    MTR Well-Known Member

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