Unemployment Remains Steady - Drops in Victoria
Unemployment has remained steady at 5.8% for July, and even dropped from 6% to 5.8% in Victoria. The unemployment figures have continually defied the trend predicted by economists and commentators for the last 12 months. What bloody recession? Australia has never had it so good.
I guess this figure means that today's economic downturn isn't as bad as yesterday's downturn. However, yesterday's GFC was far worse than Tuesday's downturn, which saw the RBA leave rates on hold, signalling rises in the not too distant future.
But the downturn on Sunday was positively woeful, hitting our shores at approximately 10.45pm that night. That was the biggest downturn and shock to hit Australia since Masterchef finished and The 7pm project began.
With this good result on unemployment, there is sure to be some bad news from commentators and forecasters. It is likely that the downturn will hit Melbourne later this evening, likely to be after late night shopping finishes. We can expect a nervous weekend, with the final 8 in the AFL still not settled. Things are likely to return to normal come Monday, although mid week we are likely to see another hit. Brace yourselves.
I'm still wondering how economists and commentators can continue to write their garbage, with the amount of yolk covering their eyes. I don't have any real formal qualifications in economics. That's probably a good thing. If i was qualified, i might come up with a different assessment every day. And do it all with a straight face.
Christ almighty we spin some crap in this country don't we?
About Just Grumpy
0 comments
Post a Comment