|
Gotta love socialism. German Jobless rate hits new record (12.6%)
|
View this Thread in Original format
| Capitalizt |
Bear in mind, this is the "official" government statistic, which usually understates it significantly. I wouldn't be surprised if 15-16% of Germans were actually not working and on the dole.
German jobless rate at new record
Unemployment in Germany is at record levels
More than 5.2 million Germans were out of work in February, new figures show.
The figure of 5.216 million people, or 12.6% of the working-age population, is the highest jobless rate in Europe's biggest economy since the 1930s.
The news comes as the head of Germany's panel of government economic advisers predicted growth would again stagnate.
Speaking on German TV, Bert Ruerup said the panel's earlier forecast of 1.4% was too optimistic and warned growth would be just 1% in 2005.
http://news.bbc.co.uk/2/hi/business/4307303.stm |
|
|
| Capitalizt |
I love how these leftist countries act surprised when their economies collapse under the burden of massive government. The sad thing is, their so-called "solutions" to these problems usually involve more of of what created them in the first place...a massive government interfering with the lives of the people.
Rather than reducing barriers to entrepreneurship and expanding economic freedom, socialists choose to curtail it...creating new laws, new regulations, artificial wage floors, and artificial price ceilings...doing virtually everything possible to direct economic activity from a central location, rather than letting the people sort these things out in the free market.
It's funny...I recall the socialists in France promising a dramatic drop in unemployment when they forced the 35 hour work week through congress. Instead, unemployment has been creeping up, month after month, year after year, and recently surpassed 10%, a new peacetime record for the country. Will they learn from this mistake? Of course not...They will shift the blame to the "greed" of the marketplace and push for more authoritarian control over the economy.
The truth is...These countries will NEVER prosper by growing their government and restricting economic freedom. Socialist policies that penalize success and subsidize failure are a recipe for disaster.
Come on Europe, try a little liberty for a change. |
|
|
| George Smiley |
Oh dear oh dear, I take it your not an economist are you?
Germany is not socialist, politically or economically
(Unless you count free health care or social benefits?!)
And one more point...
SCANDANAVIA (= stfu*)
*that was my first ever stfu! I'm so proud! |
|
|
| MisterOpus1 |
I wonder if the comparison between our jobless stats. vs. Germany's is a comparison of apples to oranges. Correct me if I'm wrong, but Germany counts the unemployed for those who've given up and stopped looking for work. The U.S., of course, does not count this whatsoever, but instead counts only those who collect unemployment benefits. If we had, wouldn't our unemployment numbers be somewhere like 9-10% or so?
So again, I think the comparison is not a valid one. |
|
|
| Lira |
lol @ "Gott help?"
 |
|
|
| occrider |
| quote: | Originally posted by MisterOpus1
I wonder if the comparison between our jobless stats. vs. Germany's is a comparison of apples to oranges. Correct me if I'm wrong, but Germany counts the unemployed for those who've given up and stopped looking for work. The U.S., of course, does not count this whatsoever, but instead counts only those who collect unemployment benefits. If we had, wouldn't our unemployment numbers be somewhere like 9-10% or so?
So again, I think the comparison is not a valid one. |
It's roughly similar to our metric.
http://www.eurofound.eu.int/emire/G...LOYMENT-DE.html
http://www.eu-employment-observator...uk/00300038.asp |
|
|
| Yoepus |
| quote: | Originally posted by Capitalizt
The figure of 5.216 million people, or 12.6% of the working-age population, is the highest jobless rate in Europe's biggest economy since the 1930s. |
I hope the Germans won't recede into blaming their ills on the West, elect a facist dicator and start conquering their neighbors:nervous:
Glad the USA stripped them of their military.:p |
|
|
| MisterOpus1 |
Granted, but what I'm referring to here (I think) is why there is a discrepancy difference between unemployment count in the U.S. and Germany. Again, since I'm not well versed in foreign economies, feel free to correct me. But according to our Bureau of Labor Statistics, one who is unemployed after 28 weeks is not included in the jobless %. Contrast that with Germany's unemployment figures, which keep the benefits going for those who are jobless UNTIL they finally receive a job. As a consequence, their numbers remain much higher, but if we did actually include those not looking for work whom are not receiving unemployment benefits here in the U.S., those numbers would therefore be a bit more comparable around the 10-12% range.
So although technically the Germany formula for finding an unemployment ratio is similar to ours, since they continue giving benefits to those unemployment vs. our system of cutting benefits at a given period of time results in the difference.
I also ran across this BBC article that also explains a strong reason for their unemployment troubles:
http://news.bbc.co.uk/2/hi/business/3672712.stm |
|
|
| igottaknow |
i  sweeping generalizations |
|
|
| occrider |
| quote: | Originally posted by MisterOpus1
Granted, but what I'm referring to here (I think) is why there is a discrepancy difference between unemployment count in the U.S. and Germany. Again, since I'm not well versed in foreign economies, feel free to correct me. But according to our Bureau of Labor Statistics, one who is unemployed after 28 weeks is not included in the jobless %.
|
Duration of unemployment plays no role in the unemployment figure. It plays a role in determining how much unemployment benefits you get, but if you’re what’s considered actively looking for a job, and you don’t have one, than you’re counted as unemployed in the household survey regardless of how long it’s been since you last had a job.
| quote: |
Contrast that with Germany's unemployment figures, which keep the benefits going for those who are jobless UNTIL they finally receive a job. As a consequence, their numbers remain much higher, but if we did actually include those not looking for work whom are not receiving unemployment benefits here in the U.S., those numbers would therefore be a bit more comparable around the 10-12% range.
|
Hmmmm once again I think you’re confusing the unemployment rate with unemployment benefits/insurance. I think the figure you’re thinking of is the weekly jobless figures which economists use to determine whether the labor market is expanding or contracting. The US doesn’t calculate the unemployment rate based upon the weekly jobless rate. The unemployment rate is based on the household survey and the payroll survey.
| quote: |
So although technically the Germany formula for finding an unemployment ratio is similar to ours, since they continue giving benefits to those unemployment vs. our system of cutting benefits at a given period of time results in the difference. |
But in actuality, I believe German Unemployment Insurance is limited … to 12 months or some kind of calculation based on age. What is relatively limitless is Unemployment Assistance, which looks to be something analogous to welfare benefit since it’s dependant on household income:
http://www.toytownmunich.com/archiv...t_benefits.html
Yea East Germany plays a large part in Germany’s unemployment woes, but by and large the problem stems from needed social reform, a new methodology implementation for calculating unemployment, and general suckiness/stagnation of the economy. Hehe, by the way don’t use the bbc for business news. Bloomberg or reuters will eat it for breakfast ;).
http://www.bloomberg.com/apps/news?...o&refer=germany |
|
|
| igottaknow |
Since I don't know how Germany calculates unemployment I'll only comment on the US. The "unemployment rate" doesn't acurately repressent unemployment.
Case in point:
I worked for a company +3 years, then left to work as a contractor for a year then got hired full-time for the company I was contracting for. Five months later I got layed off. I was denied unemployment because I worked for too short of a time at the company that layed me off and my contract work wasn't elligible because it's classified as self-employment. So for the year it took me to find another full-time job, the government never considered me "unemployed". For the 6+ month period after I graduated college I also wasn't considered unemployed either. Go figure? |
|
|
| LiquidX |
| quote: | Originally posted by Yoepus
I hope the Germans won't recede into blaming their ills on the West, elect a facist dicator and start conquering their neighbors:nervous:
Glad the USA stripped them of their military.:p |
Dont be too sure about that. There's been reports of the right movement gaining momentum again, more with a Socialist gov't screwing up Germany like that.. I wouldnt be surprised if someone from the Right wins the next elections... cause they are gaining lots of support! |
|
|
|
|
