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Unemployment will always exist. But our goal must be less than 4 per cent – The New Daily
The idea that we should tolerate unemployment of 5.5 per cent is intolerable. Policymakers should use all their firepower to avoid that outcome.
One of the most concerning things that happens in any recession is the spike in unemployment. The COVID-19-induced recession in Australia and around the world is no exception other than perhaps the magnitudes involved.
Being out of work is distressing, even in advanced economies with a social safety net (like Australia). Welfare payments rarely, if ever, replace the full loss of income from employment.
In many countries, such as the US, unemployment benefits expire after a certain period of time….
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