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Articles from Peter Martin

Exclusive. Top economists back budget push for an unemployment rate beginning with ‘4’

April 29, 2021 - 19:50 -- Admin

Australia’s top economists have overwhelmingly backed a decision by Treasurer Josh Frydenberg to reset the budget strategy so that it prioritises achieving an unemployment rate of between 4% and 5% over reducing debt.

Australia hasn’t had an unemployment rate below 5% since 2011.

Why productivity growth has stalled since 2005 (and isn’t about to improve soon)

April 27, 2021 - 19:47 -- Admin

Not long ago it seemed as if the future was going to get better and better — not long ago at all.

For me the high point was around 2005, fifteen years ago.

I don’t know if you can remember how you felt at the time, but for me the surge in living standards, driven by an ever-building surge in output per working hour (“productivity”) suggested things were building on themselves: each new innovation was making use of the ones that had come before to the point where….

Jobs for men have barely grown since the COVID recession. What matters now is what we do about it

April 21, 2021 - 19:33 -- Admin

Of all the weak targets ever adopted by Australian governments, one of the weakest has to have been an unemployment rate “comfortably below six per cent” in last year’s budget.

At the time the budget was delivered on October 6, the published unemployment rate had already fallen to 6.8%.