Are Australia’s unemployment figures cause for celebration or is the devil in the detail?
by Peter Hannam from on (#5Y6GQ)
The last time the jobless rate was this low was November 1974 - but flat wages and job insecurity are still prevalent
On the face of it, another month of Australia's unemployment remaining around the 4% mark should be cause for celebration.
Since the Australian Bureau of Statistics began releasing labour force figures in 1978, it has never released a figure as low as March's official estimate of 3.95% (or, in its full, geeky glory, of 3.9542384%). The last time it was this low was in November 1974.
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