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The unemployment rate has increased, so why do economists say it’s a positive sign? – ABC News
The unemployment rate has increased, but economists say it’s a positive sign, while some think it has now peaked. Here’s why they remain optimistic.
The unemployment rate increased last month, from 6.9 per cent to 7 per cent, but economists say it’s a positive sign.
How could that be? It’s a statistical artefact.
They say other developments in the economy suggest the economy is recovering, and more positive news is likely in coming months.
Think of it like a football club
Imagine a struggling football club, which has watched its membership dwindle from 20,000 to 5,000 fans.
If 4,000 of those 5,000 remaining members are turning up to the club’s…
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