Australia’s unemployment rate is poised to hit its lowest level in a half-century, and this has been heralded by the current government as an economic triumph. But the unemployment rate depends on many factors (including labour supply, hours of work, and others), and does not by itself assure that the economy is maximising its potential.
The column considers several factors contributing to the current unemployment rate, including:
Please see Greg’s full column, “Australia’s 4% unemployment in isolation hides what’s really going on in the labour market,” in The Guardian Australia.
Business representatives sit down today with government and others to talk about productivity. Who, according to those business representatives, will need to change the way they do things?
A new report on Australia’s standard of living has found that low real wages, underfunded public services and skyrocketing prices have left many families experiencing hardship and hopelessness.