There is a flip side to this UT - if the unemployment benefits received by the Americans was the same as here you would have to wonder if it would be substantially lower. To be unemployed in the US is a big deal . The time is limited plus obviously a drop in income. Ours is indefinite and I might add a compassionate system. However the long term unemployed , for the sake of the comparison, over 2 years vis a vis the US, and they , the long term unemployed would be off the stats.
Been three times to US since GFC and as an example Hawaii has a mass of unemployed/homeless living in parks under cardboard,plastic etc - actually quite confronting and an eyesore and an insult to them to compare our system to theirs. Whilst it is tragic that folk lose their jobs here, any comparison to conditions in US and its problems is just plain fanciful.
Additionally many of the homeowners who have access to lines of credit, esp if they have been owners for a long time , are able to access these funds until gainfully employed.I personally know of a number of folk who have been in this predicament. The bank does not care or even know. Hence unemployment is not a precondition to panic/sell the house/throw out the baby.
