Hardly galloping back to work


I never cease to be amazed at the way so many economic commentators accept an unemployment number above 5% as being an acceptable level but they are at it again today after the release by the Australian Bureau of Statistics of labour force figures for June.
8-07-2010 employmentandunemployment
True it is that the number of jobs is growing but barely fast enough to take account of those entering the work force. And while the participation rate was up very marginally last month it is still well down on what the country is capable of.

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