Is the Australian labour market today in worse shape than it was during the Great Depression? There were about half a million unemployed people in 1932, at the height of the Depression, but around 730 000 unemployed in January this year. The second number is certainly larger than the first number, so does that mean we’re in sub-Depression territory?
Articles from We are all dead.
John Black has another piece in The Weekend Australian, which I read against my better judgement. His point seems to be that the federal Labor government sabotaged the labour market, and particularly that it worked against the interests of employees in traditional blue collar industries.
Listening to the Treasurer and others, you may get the impression that a blowout in spending has caused a structural deficit. This does not accord with the analysis of the independent Parliamentary Budget Office.