Interesting economic facts
19/07/2012 § 1 Comment
The Motley Fool website posted 100 Mind-Blowing Facts About the Economy (YMMV). Lots of good little economic facts, the kinds of things I try to keep in mind when thinking about the economy. Because of the source, it’s weighted towards the US. I should do some similar numbers for New Zealand (there I am, shoulding all over myself).
The numbers on the growth of the Chinese workforce and its expected slowdown were pretty eye-opening. I’ve heard the growth numbers before, but I didn’t realise that the decline was expected so soon. I remember an OECD bureaucrat explaining the five-generations issue — China will have five generations of people supported by two generations of workers.
New Zealand is just a bobbing cork in that demographic sea.
The unemployment numbers were visualised really well by the New York Times. Statschat (highly recommended) linked to a talk by Amanda Cox. The differences in unemployment rates by demographic groups were amazing. It’s not that the factors affecting rates are surprising — highly educated, middle-aged, white males (hi!) have lower rates than young African-Americans with less than a high school education, for example. It’s the scale of the differences that surprised me. Well, surprised isn’t quite the right word. Reminded with a shock of remembrance? Or is that too Proust?