@MaxG
I will read in full in just a moment, but straight off the bat, the ‘pollster’ correctly confess this is an ‘estimate’ in their first paragraph. They estimated that the workforce (employed and unemployed, 14+ though no upper limit is stated) grew over the last month. They do not cite where they got those figures from either.
And then, in the next para, they tell us that the workforce grew due to more getting employment? What? Makes no sense to me whatsoever. #Workforce growth can only occur due to #immigration numbers and those who happened to turn 14 that month.
See where I’m going with this? Bad start if these guys wish to gain my trust.
But in discussing the RBA reasoning for a pause on the cash rate, it is only relevent to talk about the #RBA (and financial markets) definition of full employment because it is an agreed definition with which to base a discussion of the RBA’s monetary policy.
Yes, it’s a realtive thing and definitions matter. And if I were to discuss the unemployment situation, other statistical definition would be used to truly reflect how many poeple are not employed ( and I’d be using ABS Census results for that — if I were)
I agree with you, too many are #unemployed and the social programs inadequate… bring on #UBI. i say.