tag:blogger.com,1999:blog-2826531655042170344.post2187910971157420332..comments2024-03-26T11:29:52.986+00:00Comments on Economic Incentives: Cork Independent 02/08/2012Seamushttp://www.blogger.com/profile/15679299530222667673noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2826531655042170344.post-68860856079746906772012-08-06T23:55:35.175+01:002012-08-06T23:55:35.175+01:00You cannot consider full time students among the u...You cannot consider full time students among the unemployed, although some may well be joining their ranks upon grgraduation. The figures are going to be difficult to tally, as they are constantly in flux, especially when one considers the rapid exodus of our young people to greener economic pastures. The statistics which were used to drag up this lazy "1 in 2" red-top style headline are absolutely typical of the garbage which is rife in the Irish TV and newspaper media today. It is exactly this type of negative attention-grabbing sentiment which drives the culture of saving and risk aversion which is maintaining the downward pressure on our already weak economy. The fact that such a large percentage of our 15-24 year olds are in full time education is a sign of a developed nation with prospects of regaining our competiveness. <br /><br />While I would be slower than many to brand our educated workforce as world-beating, I believe that we have a great deal to be optimistic about. There is a tendency to write about the current crisis as though the likes of it has never been seen before, as though it were an apolocalyptic event which we cannot hope to see an end to. The only thing is that the world has been here before, several times in one form or another and ultimately the wheels of commerce have started to turn again. The downswing has every bit as much irrational exuberance attached to it as the Celtic Tiger ever had, the zealots may be from an alternative political persuasion but their willingness to clasp onto the negative sound bites in every press realease rather than engage in reasoned analysis could prove every bit as damaging as the "speculation" which arguably led the economy to this point.<br /><br />Irrational optimism and confirmation bias may have got us to this point, but the willingness of the floundering hack journalists to cling to irrational pessimism as a tactic to retain punters may keep us here for longer than we necessarily should be. Economics is ultimately based on sentiment and as simplistic as it may sound, we need to raise spirits in order to get the real economy of Ireland moving again.Eoin Lnoreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-63715958240729341402012-08-06T23:49:02.402+01:002012-08-06T23:49:02.402+01:00These stats are summary of Table 5A in the CSO pub...These stats are summary of Table 5A in the <a href="http://www.cso.ie/en/media/csoie/census/documents/thisisirelandpart2census2011/This%20is%20Ireland%20Highlights,%20P2%20Full%20doc.pdf" rel="nofollow">CSO publication</a><br /><br />Persons aged 15-24<br /><br />At work 130,286<br />Looking for first regular job 21,557<br />Unemployed having lost previous job 60,596<br />Student 351,209<br />Looking after home/family 9,104<br />Other 7,498<br /><br />TOTAL 580,250Seamushttps://www.blogger.com/profile/15679299530222667673noreply@blogger.comtag:blogger.com,1999:blog-2826531655042170344.post-2748337207823875142012-08-04T13:10:13.736+01:002012-08-04T13:10:13.736+01:00I find the changing of the big number representing...I find the changing of the big number representing 15-24 year olds in this blog confusing.<br /><br />First it's 580,000 people (total 15-24 y/o)<br />Then it's 212,000 people (labour force 15-24 y/o)<br />Then it's 350,000 people (in education 15-24 y/o)<br /><br />so it's about:<br />- 1 out of 7 if it's 82,000 out of 580,000<br />- 1 out of 2 if it's 82,000 out of 212,000<br /><br />Then again, if that means 212-82 = 130,000 working and so 580,000 less 130,000 = 450,000. <br /><br />Then it's about:<br />- 3 out of 4 if it's 450,000 out of 580,000.<br /><br />I get the feeling it's a whole lot more complicated than this blog or the CSO can explain in a single statAnonymousnoreply@blogger.com