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

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