Unemployment hits 6.5%

Number of unemployed hits 15-year high
Unemployment has jumped from 6 per cent to 6.5 per cent in the September quarter. The number of unemployed rose by 12,000 to reach 150,000 people Statistics New Zealand said. The number of people unemployed is at its highest level since the March 1994 quarter.

Now the Government says that Unemployment will peak at 7%, yet we just jumped .5%. The optimism this Government is using to mask the deep crises we face is simply denial. The Great Depression was in full effect 4 years after the crash of 29, we are just over one year from the crash of 2008. Unemployment will be the drag that brings the economy down further. The public services that increasingly more and more NZers are reliant on need bolstering NOT cutting or privatizing.

Things are going to get much, much worse before they get any better.