Wednesday, October 23, 2013

Up in the morning, out on a job...

The line is from an old Willie Nelson song, 'Lucky Old Sun'. Work defines so much of who and what we are, for better or worse, and in a capitalist society, if you don't own something that earns you an income then you basically sell your labour.

That's what makes the Labour Force participation rate so important for an economy.

NZ Labour Force Participation Rate
What this means is that less NZers are working which can only lead to greater poverty. Next quarters figures are out in November. Will be interesting reading...

Fuss with my woman, toil for my kids
Sweat till I'm wrinkled and gray
But the lucky old sun ain't got nothing to do
But roll around heaven all day

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Simon Lambert

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