Thursday, November 08, 2012

Latest Maori unemployment figures dire...

Latest Household Labour Force Survey for the September quarter shows a rise in Aotearoa/NZ's unemployment to 7.3%.

The rise is reported as 'unexpected', a statement which merely highlights the empirical and methodological ignorance of current economics.

For Maori, we're back to the levels last seen in the worst of the GFC (Global Financial Crisis): 15.1%.

Considering how many of us have joined the exodus to Ahitereiria [jobless rate in Oz unchanged at 5.4%], this is a staggeringly bad result. Also, given the general confidence and excitement of this years FOMA conference, this result reinforces the two-speed Maori economy. A select and lucky few are doing very well; the great majority are not, and in fact seem to be in a downward spiral.

Expect the usual platitudes.

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Simon Lambert

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