Yes most countries do have > than 10% unemployment. Its a recent trick used after the 2008 World Financial crises., The stats did used to include those who have been out of work longer than their unemployment benefits and longer than 12 months. Now most polls exclude them to prop their unemployment numbers.
I meant with the same methodology, not your conspiracy theory, many countries have >10% unemployment. Are you paying attention?
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aak anyone who owns a restaurant or owns some retail business: employees do not stay. Work is hard, kids do not last. Yet, they do not want to hire say 40 year olds fired because they were old and seriority deserves a better salary -and to skip retirement fees.
Problem is those jobs do not pay enough, kids are not motivated to work, parents tell them not to work.
Totally agree.
Thereâs a better metric, labour force participation rate .
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Stats are just stats, if you donât include âunemployableâ in your stats you can make up any number of unemployment.
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From my above link . Probably thereâs a slight improvement in the job situation as seen by the two numbers. Taiwans new labour entrant population will drastically reduce soon which MAY help with pushing up wage rates, given that most jobs including retail are off limits to migrants. Just got back from Malaysia recently , many if the show workers and restaurant workers are not Malay but migrants . Very different than here. Same in parts of Tokyo actually.
Meanwhile, the labor participation rate for May reached 58.86 percent, unchanged from a month earlier, the DGBAS added.
In the first five months of this year, Taiwanâs jobless rate stood at 3.65 percent, the lowest level in 18 years, while the labor participation rate rose 0.14 percentage points from a year earlier to 58.87 percent, according to the DGBAS.
Um ⌠there are definitions. Yes, workforce participation is a meaningful and useful statistic. But itâs not the same one as the unemployment rate.
Doesnât mean a thing, theoretically everyone (over age 14-16) can participate in the labor market.
It does mean a thing because we can use it as another metric to judge the unemployment rate against.
Never look at one stat in isolation.
If I told you all cars can reach 100km hour on a straight road would that give you much useful information ?
Whole lotta kids wasted a whole lotta money getting useless educations in the USA is the way I see it.
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No, because not all cars can!
Well they could down a steep hill or on the back of a truck.
Caught you out.
And thatâs why you never use one point of info to make a conclusion .
Degree inflation, isnât it? It used to be a degree from Taiwan meant something, at least in Taiwan - but then everyone got one. Now employers want to see a North American degree. Does what the kids learned in the USA vs Taiwan matter, no, probably not at all. But it helps them stand out from others.
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US universities really have great marketing, I have to give them that.
If you have a participation rate to calculate your unemployment against youâre dead wrong, many people can just sit at home doing nothing, being unemployed but are not in the stats. Probably economists use it this way but itâs wrong.
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Now everyone needs a Masters from abroad to get a more or less decent job and pay.
You mean my degree in Pottery Making is worthless?
Probably worth more than that degree in English compositionâŚ
You could find a job in the tourist pottery making business. Yingge!
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