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Long Term Unemployment Worse Due To Property Busts?

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http://www.economist.com/blogs/freeexchange/2011/04/americas_jobless_recovery

LTU.PNG

Possibly due to property bubbles and bursts, or possibly linked to financial bubbles and bursts?

Either way, the rises in longer term unemployment aren't looking so good for Iceland, US, Spain, UK or Ireland.

God only knows what will happen as we move into the next recession :(

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God only knows what will happen as we move into the next recession :(

I think you've nailed it. This is just the first in a sequence of crashes that will ratchet down western living standards. There'll be some slow and insipid recovery, but it won't get us back to where we were before, and then we'll drop off a cliff again.

To illustrate with just one measurement. In the late 1990's UK home ownership was over 70%, it's now close to 66% and falling. I can't see how it will ever get back over 70%, and by the middle of this century we could be looking at the same 50% level that it was in the middle of the last century.

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http://www.economist.com/blogs/freeexchange/2011/04/americas_jobless_recovery

LTU.PNG

Possibly due to property bubbles and bursts, or possibly linked to financial bubbles and bursts?

Either way, the rises in longer term unemployment aren't looking so good for Iceland, US, Spain, UK or Ireland.

God only knows what will happen as we move into the next recession :(

Very interesting chart if I'm reading it correctly, what is amazing is that there are countries that have over 50% of their working population as LTU, how do they survive?

And why is Mexico so low? do they have no benefits whatsoever?

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And why is Mexico so low? do they have no benefits whatsoever?

I imagine you are looking at very low local wages, hence not so many jobs are/were exported.

It is an interesting chart. There must be a definite correlation between the property bust in places like Spain and Ireland. Construction stopped dead. Around here, it seems more that the general credit bust has taken away all the service jobs. There have been few real jobs around for a while. I've seen a lot of start-ups in recent times for nail parlours, car handwashes, mobile dog-clippers and shampooers, mobile bin-cleaning services, man-with-a-van movers (to collect your old non-plasma TV) . . . these inessential services are folding now, which did provide significant activity for the unemployable over forties.

Under forty . . . my nephew has been out of work for nearly a year. No surprise there, his skill is laminate flooring and kitchen tops :lol:

It's the jobless recovery, innit.

Until we stop exporting manufacturing and agriculture jobs to exploited 12 year old girls in the third world, it isn't going to change.

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I imagine you are looking at very low local wages, hence not so many jobs are/were exported.

It is an interesting chart. There must be a definite correlation between the property bust in places like Spain and Ireland. Construction stopped dead. Around here, it seems more that the general credit bust has taken away all the service jobs. There have been few real jobs around for a while. I've seen a lot of start-ups in recent times for nail parlours, car handwashes, mobile dog-clippers and shampooers, mobile bin-cleaning services, man-with-a-van movers (to collect your old non-plasma TV) . . . these inessential services are folding now, which did provide significant activity for the unemployable over forties.

Under forty . . . my nephew has been out of work for nearly a year. No surprise there, his skill is laminate flooring and kitchen tops :lol:

It's the jobless recovery, innit.

Until we stop exporting manufacturing and agriculture jobs to exploited 12 year old girls in the third world, it isn't going to change.

Until we become competitive on wages with these 12 year old girls in the third world nothing is going to change, we can’t be competitive when everyone has to pay £1k a month in rent or interest unless that £1k a month is worth the same as a loaf of bread or anything else. I hate it but print print print to devalue the pound. The only other way were going to have growth is if everything is done mechanically and then we have one hell of a jobless recovery.

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Until we become competitive on wages with these 12 year old girls in the third world nothing is going to change, we can’t be competitive when everyone has to pay £1k a month in rent or interest unless that £1k a month is worth the same as a loaf of bread or anything else. I hate it but print print print to devalue the pound. The only other way were going to have growth is if everything is done mechanically and then we have one hell of a jobless recovery.

Either free slaves or become them.

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Either free slaves or become them.

Quote of the day, and why the globalists just don't and never will get it.

Red Karma: Stop talking the economy down! ;)

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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