Big L - you may also need to look at the big picture here -BHP and others are still advertising for people - in case you don't know there is still a skilled shortage so please don't assume that these people are unemployed. They will be redeployed - just means a little less strain on the total system for now.
It will get worse I do agree , however in context 6% unemployment as some commentators are saying is not as bad as the 90s.
I hope it does not go worse from there and at some point this all will turn around - the question is when. I hope , and quite frankly believe and will work to better times rather than wallowing in self defeating misery as it achieves nought. I don't doubt you may genuinely believe otherwise - that is your choice.
We obviously are not caught up in the pessimism that is so rife on HC.