Strap yourselves in, even with the most optimistic outlook we will likely be waiting a long time before our unemployment rate falls back to pre-GFC levels, writes Greg Jericho.
In the past couple of weeks some seemingly contradictory news has been delivered.
We have had the Reserve Bank increase its expectations for growth, up from 2.5 per cent to 2.75 per cent, and for even better growth in the following years. But we have also seen the worst unemployment figures for a decade. The combination of improved growth but high unemployment suggests the economic recovery might not flow through to workers, and the spectre of a "jobless recovery" looms.
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