ScoMo’s 3% unemployment goal requires less immigration

Tuesday 1 February 2022

Prime Minister Scott Morrison has set a “once-in-a-lifetime” unemployment goal of less than 4% in a desperate bid to secure another term in office:

“I believe we can now achieve an unemployment rate with a 3 in front of it this year. Our goal is to achieve this in the second half of 2022,” [Morrison] said.

“We have not seen this in Australia for almost half a century. This is a once-in-a-lifetime opportunity.”

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.