Forum discussion: Immigration policy, fake GDP & suspiciously low unemployment rate

October 24th, 2009

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One of our readers had this to say at the forum,

The policy change of the new federal government to high immigration (the immigration revolution) for Australia is causing high demand for services and resources and is bidding up the price for real estate.

It is doing no favours for the current population.It is making life harder and planning for the future more difficult. Haven’t we been told that water resources are running low and farm land is becoming less productive, etc. Also its politically incorrect to challenge since the media/Labor equates criticism to immigration as racism well I think that it is just plain suppressive.

About that recession that we never had I think we should look at the stats again the measure of GDP is skewed. I am not a nation but if I was my income would have gone up a fraction according to the current measurement of GDP for that quarter however if I was to measure me as an individual ( which I am ) then my income went down. How can this happen? The government used a quirk in the figures to fool us. This is the core of it “The number of immigrants rose at a higher percentage rate than the growth in the economy” so it was a recession they just didn’t tell us. The high immigration policy has been going on since then so our growth is still being padded out by this quirk no wonder we do not feel the recovery as much as we think we should.

Also another quirk is that our unemployment rate is suspiciously low some of this this seems due to the education revolution reclassifying some youth from unemployed to students with no real change in status and the compression of wages by cutting hours worked we should measure something like FTE (full time equivalents) to get a real picture but this isnt being done. The number of hours worked in the whole economy has been dropping for month’s now and only in the last month did it rise and one month is not a trend.The whole unemployment measure needs an overhaul and perhaps the ABS needs financial independence like the reserve bank.

What are your views? Click here to discuss at the forum.

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