Why the 27% unemployment rate is utter bulldust

Picture: Flickr.com

Renegade economist Xhanti Payi of Nascence Advisory took an alternative look at jobs numbers on Bruce Whitfield’s The Money Show.

Payi looked at the unemployment rate and came to the following conclusion:

It’s a meaningless metric in an environment such as ours.

For more detail listen to the interview in the audio below (or scroll down for quotes from it).

If they’re not looking [for a job] then they’re excluded [from the unemployment rate]…

Xhanti Payi, economist - Nascence Advisory

We continue to create jobs… but we keep having more and more people joining the labour force…

Xhanti Payi, economist - Nascence Advisory

It’s not true that we’ve had jobless growth. When we grow it creates jobs…

Xhanti Payi, economist - Nascence Advisory

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
FNB unilaterally closes accounts of all cryptocurrency trading platforms in SA

FNB unilaterally closes accounts of all cryptocurrency trading platforms in SA

FNB ("most innovative bank in SA") is unbanking one of the most innovative industries of our time, says Farzam Ehsani (VALR.com).

We paid before the family arrived with the body – Old Mutual

We paid before the family arrived with the body – Old Mutual

Consumer journalist Wendy Knowler investigates after a poor family’s desperation to get a claim paid made headlines.

Kylie Jenner - the 22-year-old billionaire

Kylie Jenner - the 22-year-old billionaire

Using what you have to build a modern billion-dollar business

'Black candidate would’ve been great, but we support De Ruyter’s appointment'

'Black candidate would’ve been great, but we support De Ruyter’s appointment'

“For the good of all of us, we support him,” says Sandile Zungu (Black Business Council).

Investec Asset Management renames to Ninety One ('when Siya Kolisi was born!')

Investec Asset Management renames to Ninety One ('when Siya Kolisi was born!')

"It’s a year when the world changed fundamentally," says founder Hendrik du Toit. "The USSR ended and Siya Kolisi was born!"

Workers abandoning the strike are being intimidated – SAA

Workers abandoning the strike are being intimidated – SAA

The SACAA says SAA is safe, despite union claims to the contrary. SAA is taking legal action, says board member Martin Kingston.

Popular articles
[WATCH] Viral schoolkid who cried at Bok tour attends awards with the Kolisis

[WATCH] Viral schoolkid who cried at Bok tour attends awards with the Kolisis

He was caught on camera earlier this month, bawling his eyes out when he saw the Bok squad at the start of their victory tour.

Demolition of Bank of Lisbon building in Jhb CBD to take place on Sunday

Demolition of Bank of Lisbon building in Jhb CBD to take place on Sunday

EWN reporter Mia Lindeque gives an update on the demolition plans, which include viewing of the implosion.

[VIDEO] Family take dead family member to Old Mutual after no funeral pay-out

[VIDEO] Family take dead family member to Old Mutual after no funeral pay-out

Khabazela shares tweets and Facebook posts that have gone viral.

'Pravin Gordhan is part of SAA mess, he is not a saint'

'Pravin Gordhan is part of SAA mess, he is not a saint'

Wits School of Economics and Business Science senior lecture Lumkile Mondi says the South African Airways crisis is self-created.

3 best JSE shares to buy, right now (by The Robert Group)

3 best JSE shares to buy, right now (by The Robert Group)

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

[WATCH] SABC reporter heading for danger during looting goes viral

[WATCH] SABC reporter heading for danger during looting goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

13 tips for saving hundreds (nay, thousands!) of rands each month

13 tips for saving hundreds (nay, thousands!) of rands each month

The economy is toast. Personal finance expert Warren Ingram shares 13 highly effective tips for making ends meet.