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Sunday 10 March 2019

Lies and statistics

Unemployment stats

Some hysterical debate going on via social media amongst the political elites about which political party had the highest average unemployment rate, who had the highest unemployment rate, or the best performance, and so on.

Lies, and damn lies...here's the chart, make your own mind up.


Of course, Labor presided over the global financial crisis and had to deploy massive stimulus to keep the economy afloat. 

The Coalition has grappled with the end of the mining investment boom, but that downturn has now bottomed out. 

A major challenge facing Labor after the election is how to stop housing construction from drying up over the next few years, while getting wages to grow.

Most of the available evidence suggests that the unemployment rate will need to fall further from here for meaningful wages growth to return.