Nov 11, 2010

Employment data might give pause to hairshirt brigade — or not

The rise in unemployment is good news and bad news -- good news because it reflects higher participation, but bad news because it confirms the domestic economy is still soft.

Bernard Keane — Politics editor

Bernard Keane

Politics editor

Oops, well, that wasn’t supposed to happen. The “full capacity” crowd was in full cry, deploring the lamentable failure of Wayne Swan to enact swingeing cuts to government expenditure in light of the small upward revision in Treasury’s growth forecasts MYEFO this week. The economy was roaring ahead, and the Government was failing to further accelerate its reduction in spending.


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3 thoughts on “Employment data might give pause to hairshirt brigade — or not

  1. David

    Well written BK, you are on top of your game.

  2. davidk

    Hockey claimed yesterday that the ANZ had lifted its’ mortgage interest rate by “nearly double that of the Reserve Bank’s rise in the cash rate”.
    This means Joe thinks 39 is nearly double 25. How can anybody take this guy seiously?

  3. Jimmy

    Davidk – Yeah I saw that last night and had a laugh, it is typical of the Libs economic strategy all sound bite no policy.

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