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Exclusive. Top economists back budget push for an unemployment rate beginning with '4'


Australia hasn’t had an unemployment rate below 5% since 2011.
It hasn’t had an unemployment rate below 4% since the early 1970s.
Unemployment rate, per cent
The new wording of the fiscal strategy required in the budget as part of the Charter of Budget Honesty will commit the government to quickly drive down unemployment until the unemployment rate is between 4% and 5%.
Only when the unemployment rate is sustainably within that band will the strategy switch to a focus on reducing government debt as a share of GDP.
The existing wording, introduced in last year’s budget in response to the COVID crisis, only commits the government to drive down unemployment until the rate is “comfortably below 6%”. ....

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Japan's powerful patriarchy often sidelines women. Fixing that won't be easy


Japan’s powerful patriarchy often sidelines women. Fixing that won’t be easy
There was the Tokyo 2020 official who floated the idea of an “Olympig” creative campaign with plus-sized model Naomi Watanabe. An Olympic chief who resigned after making sexist remarks about women.
And a Japanese governor who recommended men go grocery shopping during the pandemic because women take too long.
Just last week, a Japanese city manager sparked outrage when he gave a speech telling new employees to “play around” to remedy the country’s plunging birth rate.
For decades, gaffe-prone men in positions of power have caused embarrassment and sparked outrage among younger generations and women in patriarchal Japan, which is ranked 120 out of 156 countries in the World Economic Forum’s latest Global Gender Gap Index between Angola and Sierra Leone. ....

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