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  #1  
Old 23-11-2011, 02:49 PM
Kerrigan Kerrigan is offline
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Default A Jobless Recovery

Could somebody please explain how an economy can recover without people working
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  #2  
Old 23-11-2011, 03:06 PM
Leo Leo is offline
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Is there a genuine question here? Do you believe an economy exists where no one is working?
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  #3  
Old 23-11-2011, 03:12 PM
Kerrigan Kerrigan is offline
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Hi Leo, yes a genuine question with a touch of sarcasm! I've heard 'a jobless recovery' been mentioned quite a lot mainly be economic institutions and the media. They must and do take us all for fools.
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  #4  
Old 23-11-2011, 03:14 PM
jhegarty jhegarty is offline
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Despite what the papers may lead you to believe most people still have jobs.
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  #5  
Old 23-11-2011, 03:25 PM
Mpsox Mpsox is offline
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emmigration, we don't get more people back to work but our social welfare bill is reduced by people leaving the country. That then frees up more funds for the Govt to start to spend in measures (capital spending for example) that could then create jobs in the longer term or to allow them to reduce taxes to give people more money to spend.

A long term recovery requires people working, but in the short term, the solution may be for people to leave
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  #6  
Old 23-11-2011, 03:26 PM
micmclo micmclo is offline
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Emigration seems to be a pressure valve so

Wasn't there some Minister who said there wasn't room for all of us on this island?
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  #7  
Old 23-11-2011, 03:30 PM
The_Banker The_Banker is offline
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Quote:
Originally Posted by Leo View Post
Is there a genuine question here? Do you believe an economy exists where no one is working?
That was a pretty smart alec reply Leo.
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  #8  
Old 23-11-2011, 03:31 PM
The_Banker The_Banker is offline
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Quote:
Originally Posted by micmclo View Post
Emigration seems to be a pressure valve so

Wasn't there some Minister who said there wasn't room for all of us on this island?

Brian Linehan (Snr) back in the late 80s.
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  #9  
Old 23-11-2011, 03:39 PM
Leo Leo is offline
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Quote:
Originally Posted by The_Banker View Post
That was a pretty smart alec reply Leo.
It wasn't intended to be, but was a reflection on the validity of the question. if no one is working, you don't have an economy, so economic is impossible.
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  #10  
Old 23-11-2011, 03:47 PM
Latrade Latrade is offline
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Quote:
Originally Posted by Kerrigan View Post
Could somebody please explain how an economy can recover without people working
I think the term refers to the "export led recovery", which is essentially the export market doing well, but with no plans for new jobs being created in that industry other than those that currently exist. Rather than nobody being employed at all.
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  #11  
Old 23-11-2011, 06:22 PM
Purple Purple is offline
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It refers to a recovery where that recovery is not in labour intensive areas of the economy.
The same discussion took place in the early 90’s when exports were up, the balance of payments was good and both GNP and GDP were up but unemployment stayed high.
The solution was tax incentives to stimulate the labour intensive sectors (low skilled retail and construction jobs) through tax breaks and interest cuts. This lead to the construction bubble, the property bubble, wage inflation, loss of competitiveness, loss of a whole generation of skilled people (who went into construction trades and construction related degree courses instead of engineering, engineering trades, computer science etc)national delusional self aggrandisement, massive debt and recession.
A jobless recovery is better than some populist muppet trying to “create” jobs by robbing productive Peter to pay unproductive Paul. It’s one thing spending money on essential services but let’s not try any of that “Stimulate the whatever sector” nonsense again.
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  #12  
Old 23-11-2011, 07:15 PM
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Quote:
Originally Posted by jhegarty View Post
Despite what the papers may lead you to believe most people still have jobs.


The flood gates for emigration have yet to open for the half million currently unemployed including the countless numbers in FAS schemes, CE Schemes etc. Maybe when they have all disappeared, you will be able to reassess your situation then you will realise you will be back to the 50's with only the elderly and young left behind.
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  #13  
Old 23-11-2011, 07:26 PM
Purple Purple is offline
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Quote:
Originally Posted by cashier View Post


The flood gates for emigration have yet to open for the half million currently unemployed including the countless numbers in FAS schemes, CE Schemes etc. Maybe when they have all disappeared, you will be able to reassess your situation then you will realise you will be back to the 50's with only the elderly and young left behind.
There's currently around 300'000 people unemployed. That's around 14% of the workforce. The highest rate was in 1985 when to hit 17.5%.
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  #14  
Old 23-11-2011, 07:31 PM
jhegarty jhegarty is offline
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Quote:
Originally Posted by cashier View Post


The flood gates for emigration have yet to open for the half million currently unemployed including the countless numbers in FAS schemes, CE Schemes etc. Maybe when they have all disappeared, you will be able to reassess your situation then you will realise you will be back to the 50's with only the elderly and young left behind.
Unemployment in September was 14.3%

So it will be the elderly , the young and the 85.7% of people who still have jobs.
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  #15  
Old 23-11-2011, 07:38 PM
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Quote:
Originally Posted by jhegarty View Post
Unemployment in September was 14.3%

So it will be the elderly , the young and the 85.7% of people who still have jobs.
So the economy is booming, there is no need for this thread and everything is rosy in the garden
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  #16  
Old 23-11-2011, 07:41 PM
Purple Purple is offline
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Quote:
Originally Posted by cashier View Post
So the economy is booming, there is no need for this thread and everything is rosy in the garden
Who said that?
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  #17  
Old 23-11-2011, 07:50 PM
jhegarty jhegarty is offline
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Quote:
Originally Posted by cashier View Post
So the economy is booming, there is no need for this thread and everything is rosy in the garden

No , but for everyone who doesn't have a job there are 6 people with job.

It sucks for the 1 , but it doesn't lead to an abandoned country.
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  #18  
Old 23-11-2011, 08:02 PM
blueband blueband is offline
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you would be almost wondering why the goverment is going on about it much!
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  #19  
Old 24-11-2011, 12:52 AM
Pope John 11 Pope John 11 is offline
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Quote:
Originally Posted by jhegarty View Post
Unemployment in September was 14.3%

So it will be the elderly , the young and the 85.7% of people who still have jobs.
I hate when persons quote percentages, but do not include a percentage for those that have emigrated. Probably between 1 and 2% have emigrated so the figure 85.7% is incorrect
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  #20  
Old 24-11-2011, 08:31 AM
Delboy Delboy is offline
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Quote:
Originally Posted by Pope John 11 View Post
I hate when persons quote percentages, but do not include a percentage for those that have emigrated. Probably between 1 and 2% have emigrated so the figure 85.7% is incorrect
what about those that have immigrated in! We're shipping out educated ,at high cost, young people (in the main) and by giving a lot of the jobs going to Immigrants (either those already here or the 55,000 given PPS number this year so far)...see other post on Rathmines Leisure Centre.
So jobs are being created, or at least retained, but the numbers leaving the country v's those coming in are netting off against each other.
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