Maybe the unemployment rate has peaked
Today and tomorrow I am hosting a workshop – ARCRNSISS Methods, Tools and Technologies workshop in Newcastle for the Spatially integrated social science research network that I am part of. This is a technical workshop on regional modelling which I host annually. So back to back with the CofFEE Conference last week means we have been very busy. I will write a blog about the work we do in the regional science area another day (it is very technical). But today the Australian Bureau of Statistics (ABS) published the November Labour Force Survey data and it shows that full-time employment is growing and the unemployment rate has fallen (by 0.1 per cent to 5.7 per cent). While underemployment is constant, the data suggests that the negative impact on the labour market may have peaked. But as I caution in this blog, regional disparities are huge and it is not the time to start talking about fiscal contraction.