Jobs lift all about bullshit

Friday 18 September 2020

Via the ABC:

Australia’s official unemployment rate fell last month from 7.5 per cent to 6.8 per cent.

The result surprised basically all economists, including those at Treasury and the Reserve Bank, who were expecting the unemployment rate to deteriorate again.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.