Quote:
Originally Posted by wraymond
CLF.
The best and most accurate measure of comparative growth/prosperity is to compare a country’s performance with others of a similar kind, both legal and political, and proximity that trades under similar conditions. Now, where would we find one like that? Like Europe for instance! Go on, try that!
EU unemployment overall (including UK lowest since you-know-when) as at 1/3/2019 - 7.8% (from 8.6% in 2018). Take UK low figure out of the ‘28’ because it weights the answer and their figure, which is the nearest fair comparison to UK, becomes around 8.5%. Then, you look at youth unemployment on its own in Europe. It is frightening.
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I didnt get a chance to respond to this.
'The best and most accurate measure of comparative growth/prosperity'
NO! No it is neither the best nor is it even accurate. The only way you can accurately compare anything, is to accurately measure. Using words like 'similar' and 'proximity' throws accuracy out the window! COMPLETELY!
What you could do accurately to compare growth, would be to take one figure from a country (or anything) then the same sample from another country. As an example count ALL living 30-35 year olds - eligible and ineligible to work, able and not, counting who is in work, and who isnt, on a particular date. The reason for including all, is to eliminate each country's ability to skew figures by how they categorise or sideline numbers. Then each year, use the same method to count. Divide the number of total number of people by the total in work, multiply by 100, and you have a simple, accurate figure that you can compare with anywhere without resorting to similar or approximate situations. This way you/they can measure a like for like growth or fall for that group. Youth unemployment in Europe is frightening yes, but it is just as frightening here, depending on how you care to measure it.
Comparing figures now to 40 years ago is not going to compare anything accurately or even similarly, for reasons which I am not going to repeat. The only reason to make such a pointless comparison, is to try to make a positive spin on something in times of austerity or other critical times (another reason could be to distract the population from other issues - but that is me being even more cynical lol). It is not a bad thing necessarily, but it should be taken with a pinch of salt, especially at election times and not just elections, but it can be anytime someone wants support, be it a politician or a company wanting shareholder support for something, etc.
These types of figures mean nothing, of any practical note anyway. They are bragging rights, that is all.