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

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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%”. ....

United States , Robert Menzies , Sue Richardson , Nikki Hutley , John Gorton , Josh Frydenberg , Saul Eslake , William Mcmahon , Parliamentary Budget Office On , International Monetary Fund , Economic Society , Macquarie University Geoffrey Kingston , Economic Society Of Australia , Australian Chamber , Treasurer Josh Frydenberg , Budget Honesty , Reserve Bank , Harold Hold , Parliamentary Budget Office , Geoffrey Kingston , ஒன்றுபட்டது மாநிலங்களில் , ராபர்ட் மென்ஸீஸ் , வழக்கு ரிச்சர்ட்சன் , ஜான் கார்‌டந் , வில்லியம் மக்மேயந் , பாராளுமன்றம் பட்ஜெட் அலுவலகம் ஆன் ,