Another Messy Employment Story…

The ABS released their latest and now infamously wobbly employment data today which reported a surprising dropped in February, declining by 52,800 — led by full-time roles — compared with a forecast 30,000 increase. The outcome was the sharpest fall in employment since December 2023. The jobless rate held at 4.1%, reflecting a fall in participation rate to 66.8% from a revised 67.2%. We know that since COVID Public Statisticians around the world have been struggling to measure real employment and unemployment accurately – for example the ONS in the UK all but publically admitted their figures were rubbish. At […]