Unemployed - Try Funemployed

This comment was posted to The Age in response to an article "Unemployed? Try funemployed"

Light at the end of the tunnel is an on-coming train! Many people retrenched in previous recessions did not find employment even after attending courses in TAFE to upgrade their qualification. While time spent in renovating homes, with the family, or blogging may occupied time, be careful not to spend the redundancy package on having too much fun. Employment drought can last for years even after economic recovery. Keep in mind that many more younger graduates come out of TAFEs and universities each year during this period, and they do have the latest qualification and know-how, and cheaper to employ. Keep abreast with what's hot and what's not - a career / sea change can only happen if one is prepared. Blogging is fun, but is fairly unproductive. Younger managers always view older, more experienced job applicants as potential threats. I may sound pessimistic, but I am just being realistic. I have multiple career paths, and now am enjoying my semi-retirement.

Going up is NOT always good

Today's unemployment rate rose to 5.8% nationally (as I have predicted accurately), and 6% for Victoria. The slow climb will change to much sharper gradient in months to come. I am deeply concerned for those over-excited first home buyers, who have been baited and misled into "investing" the biggest asset in their life - a home that they can't afford to own!

Low interest rate won't last

Reserved Bank of Australia (RBA) has decided on 8 July 2009 to keep cash rate at 3%. Good time can't last for those who have loan commitment. On the contrary, for the self funded retirees, bad time will go away sooner than you think. The inflation rate will start to climb when increases in utilities cut in. To curb inflation, RBA will increase interest rate.