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Bill Mitchell — The chance of an unemployed Australia getting employment now is nearly at highest level since the early 1990s

Summary:
I was going to comment on the Spring Statement delivered by the British Chancellor yesterday, but Spring is meant to be a happy, sunny time and the Statement missed the mark on that score. I also need to do some more calculations before I really know the full depth of despair that the British government is delivering on its people. So next week. Maybe. But in the spirit of calculation, I wanted to check how easy it is to get a job in Australia at present after hearing some character on the radio yesterday say that it has never been easier. I thought with unemployment getting lower as the external border has been largely shut for 2 years, there might be some credibility in that claim. But one has to check these things and I was interested in whether the border closures have materially

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I was going to comment on the Spring Statement delivered by the British Chancellor yesterday, but Spring is meant to be a happy, sunny time and the Statement missed the mark on that score. I also need to do some more calculations before I really know the full depth of despair that the British government is delivering on its people. So next week. Maybe. But in the spirit of calculation, I wanted to check how easy it is to get a job in Australia at present after hearing some character on the radio yesterday say that it has never been easier. I thought with unemployment getting lower as the external border has been largely shut for 2 years, there might be some credibility in that claim. But one has to check these things and I was interested in whether the border closures have materially altered the transitions between the labour force states. So I updated my databases and went to it. There was some jazz playing in the background to ease the strain! Result: the claim is partially true....

Summary conclusion: sort of.

Bill Mitchell – billy blog
The chance of an unemployed Australia getting employment now is nearly at highest level since the early 1990s
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
http://bilbo.economicoutlook.net/blog/?p=49466

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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