Kouk: Australia headed into depression

I don’t agree with Kouk on much but even the stopped clock is right twice per day:

It is staggering and utterly dispiriting to see around 25 per cent of the workforce either unemployed, underemployment or having given up looking for work.

Those lucky to have a job are being subjected to pay freezes or pay cuts and many are on edge fearing their job will be the next to go.

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