How many jobs created per 1% of GDP?

grizzly1911

zagubov wrote: »

Well they don't waste much money on everything else (apart from loads of regional parliaments). So no giant aircraft carriers sans aircraft, Trident submarines, or invasions of Iraq/ Afghanistan/ (insert Middle-eastern nation name here). Or a high-profile president you could name without looking up (it's likely to be the ordinary man or woman in a suit on the tram next to you).:D

First rate country.

The trains run like clockwork too.

Generali

One of the reasons for low unemployment in Switzerland is that there is a very low female participation rate in the workforce. Another is, I believe, that if unemployment rises they kick out the immigrants.

"...in Italy for 30 years under the Borgias they had warfare, terror, murder, and bloodshed, but they produced Michelangelo, Leonardo da Vinci, and the Renaissance. In Switzerland they had brotherly love - they had 500 years of democracy and peace, and what did that produce? The cuckoo clock. So long Holly."

The funny thing about that line is that the Austrians invented the cuckoo clock.

zagubov

Generali wrote: »

One of the reasons for low unemployment in Switzerland is that there is a very low female participation rate in the workforce. Another is, I believe, that if unemployment rises they kick out the immigrants.

"...in Italy for 30 years under the Borgias they had warfare, terror, murder, and bloodshed, but they produced Michelangelo, Leonardo da Vinci, and the Renaissance. In Switzerland they had brotherly love - they had 500 years of democracy and peace, and what did that produce? The cuckoo clock. So long Holly."

The funny thing about that line is that the Austrians invented the cuckoo clock.

An absolutely brilliant film. We all forget how Austria was divided by the four powers just like Germany.

In past centuries some countries locked up their wealth in the aristocracy who patronised artists who produced the culture.

Or, like the Swiss, scrapped all that nonsense and generated wealth via industry but have little or no recognisable culture. They set up a wealthy country that still maintains its affluence today. What's the best way? Neither.:cool:

michaels

Back on topic we have seen falling productivity/wages keeping employment up despite slow/no growth - could it be that we see a 'jobless recovery' as a consequence - ie the growth comes from productivity returning to previous levels rather than employers taking on more staff?

On a related issue obviously the macro doom and gloom has led to workers 'pricing themselves in to jobs' with negative real wage growth. IF growth returns but unemployment remains high will we see pressure build up for wage increases or will they remain stagnant?

Kennyboy66

HAMISH_MCTAVISH wrote: »

Oh I agree completely, there will always be a core of unemployed Brits because, well, for want of a better description, they are basically unemployable.

However most economic recoveries in GDP terms also correlate with a decrease in unemployment.

Just wondering how that is likely to pan out for the UK.

1) employment is a lagging indicator so correlation not quite as simple as you would like to think.

2) you are confusing employment and unemployment which are not the same thing. There can be significant and sustained increases in GDP without any reduction in the unemployment rate.
Between Q2 1981 and Q2 1990 there was growth in every quarter bar one - and sometimes that growth was, for the UK, exceptional.

Until early 1984 unemployment actually increased and it didn't start falling until 1987.

So the economy in 1987 was roughly 20% bigger than 1980, yet unemployment had almost doubled.

Hows is likely to pan out for the UK ?

I can see (as its already happening) much of the increase in employment going to older people - I don't hold huge hope for school and certain University leavers in the next few years.

ILW

Why is GDP always quoted, it is meaningless to most people?
Per capita GDP is much more informative for an individual.

coastline

I've read two articles recently and both are predicting heavy job losses in the next few years...
One is the government are prepared to shed hundreds of thousands of jobs to meet the budget deficit targets.
The other is the high street where again over 200,000 jobs are to go in the next few years...not sure if this is in connection with online trading.
Looking at unemployment figures how can you compare with the past.??...40-50 years ago full employment was half a million out of work today its maybe two million.
Years ago further education numbers were only a few hundred thousand but today its two million youngsters...add that to the dole numbers along with the various changes the government make to keep headline numbers down to 2-3 million..
How many claimed sickness benefit years ago or retired early...16-18 yo don't claim...all to be factored in..
Its also been said since 2009 that many firms have held their staff so maybe there won't be a significant lift in job vacancies.