Up the workers (UK)

  By Mystic | September 9, 2012 - 10:15 |

This is `kinda` the UK equivalent of the US `Joker Chart`.
All recessions are zeroed to the peak employment point before the recessions started; and track the progress of their fight-back to that initial position.
Only four recessions -
Light green is the `dubla dip` recession of the early eighties. The recessions may come and go, but the employment zero mark is not regained until ’88.
Yellow is the ’91 recession, which similarly, stretches out for many unemployed years after the recession is deemed to be over.
Lilac is ’74 to ’79 and it soon gets back to the zero mark.
Dark blue is this great recession and it is about back at zero after only four years.

Something strange is going on here~!?
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Link to image.

Written by: Mystic on September 9, 2012.
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  • Willbick

    is it really possible to compare recessions over time with so much manipulation of figures going on? At least, I assume the figures are manipulated. Its all rather complicated when you take into account things like job quality and whether they’re part time and number of students etc

    • windslice

      Have to agree.

      There are far too many fiddle factors involved in producing these statistics.

      http://www.shropshirestar.com/news/2012/05/16/how-statistics-hide-true-jobless-figures/

      “He says: “At the end of the day it looks good for the government – he is not claiming, therefore he is not classed as unemployed – but I am left on the scrapheap. We are just another statistic. Or rather we are not, because we don’t even appear on the list.””

      I have a little difficulty in understanding why figures are manipulated to produce better results when it comes to something as important as the economy of a country.

      Without reasonable accurate figures, how on earth can the politicians make suitable decisions?

      It is not as though it is some sort of international beauty contest, where contestants can powder over the odd pimple or inject a wad of botox. We are talking about real people struggling to make ends meet.

  • CSArichardo

    Nice quick rebound by the UK it appears ?  But their currency dropped approx 25% in value against the Cdn dollar ?!  If that is not a currency war what is ?

  • Acrobat_747

    Just because the unemployment rate is low, doesn’t mean everyone is actually productive.  The government is paying people to do pretend jobs.  Did this happen the past recessions? I wonder….

    • http://overthepeak.com/wordpress/ Mystic

      I think it has always happened, but they are taking it to real extremes today~!

  • Axel1million

    This chart is either wrong or misleading. The unemployment rate before the ‘great recession’ was about 5.5%, and it’s has been at nearly 8% for about 3 to 4 years.

    Check it out:-
    http://www.tradingeconomics.com/united-kingdom/unemployment-rate 

    • http://overthepeak.com/wordpress/ Mystic

       Agreed.

  • Windslice

    Kinda liked this massive rant…

    http://survive-prosper.com/HarryDent/weston_harry_dent_1-2_casey.doc

    He starts off with “Second reason, men tend to
    think that they understand things already, things like economics and politics.  Thousands of years of evolution has pretty
    much taught men if you don’t look like you know what you’re doing, you don’t
    get laid.  Okay?  So you get the old adage, which you’ve heard
    and seen many times, no matter how lost a man gets, he will never, ever ask for
    directions.  That’s why it takes 1
    billion sperm to hit 1 egg.  So what I
    ask for the men, I’m only gonna be up here 30 minutes or so, just suspend what you’ve
    been taught about economics for 30 minutes.”

    and then

    “Economists are people who
    aspired to be accountants, but just didn’t have the personality.”  

    onto

    “Closest way to explain
    deflation, what does your body do?  Let’s
    say you went to the sushi place last night and you had some really bad sushi.  What would your body do with that bad sushi?  Flush it out as fast as possible.  Does it want to hold onto it?  That’s what our system was trying to do.  That’s what our system did in the 1930s.  We went from almost 200 percent debt,
    the GDP ratios in total, to 50 percent in three years.  Do you guys wanna keep $42 trillion in
    bullshit debt?  Anybody for that?  That what the government’s recommending.  They don’t want this debt to deleverage.  Japan
    didn’t want it to deleverage.  How is
    Japan doing 20 years after their crash?  Anybody
    know?  Well, their stock market’s still
    down 75 percent, 80 percent, just a year ago.  I was told for decades real estate can’t go down. 
    I was told that in California where I lived.  I was told that in Miami.  I was just told this in Sydney, Australia,
    and in Vancouver, British Columbia.  “Real
    estate can’t go down here, ’cause we’re so special.”  They’ve gone down everywhere.”

    and so on…..

    • http://overthepeak.com/wordpress/ Mystic

       I am getting into this…….Good speeching~!

  • Windslice

    Well, it ain’t working yet.

    Strange!

    What shall we do?

    Better carry on in the belief that things will, eventually, get better.

    But will they?

    http://www.ft.com/intl/cms/s/0/a0e397b6-f8dd-11e1-b4ba-00144feabdc0.html#axzz265rrfU9I

    “I am a little – maybe more than a little bit – worried about the future of central banking,” said James Bullard, president of the Federal Reserve Bank of St Louis, in a Financial Times interview at Jackson Hole. “We’ve constantly felt that there would be light at the end of the tunnel and there’d be an opportunity to normalise but it’s not really happening so far.””

    Yet all of the central banking activism of the past four years is based on the belief that while this crisis may be similar to those of the past, there must be a cocktail of policies that will make the recovery different this time.
    That faith is coming into question, however.”

    So here we go, I suppose, more of he same medicine

    “Another is that the tools work, even if current conditions blunt their effect. If there are new headwinds, then the answer is to use them more aggressively. That is the mainstream view among central bankers.”

    But will it work??????

    “A third possibility is perhaps the most alarming for central bankers such as Mr Bernanke, who have staked their reputations on successive rounds of quantitative easing: that it simply does not work.”

    Difficult that, as we may have reached the TFTGB point.

    (Too Far To Go Back)

    • http://overthepeak.com/wordpress/ Mystic

       ”Gotta do something”, said the ego.

  • Windslice

    An oldish article from Krugman

    http://krugman.blogs.nytimes.com/2010/07/22/more-on-reinhart-rogoff/
    Never mind the words, I just can’t get me brain around the graph.

    Must be the Superior Intellect of the Krug at work.

  • http://overthepeak.com/wordpress/ Mystic

     I can rarely get to the end of a Billy Blog, but I will give it a try later.