How to fix Australia’s labour woes.
In terms of the most recent data, the labour market remains near its weakest point since the 1930s Great Depression.
This translates to a 7.5 per cent unemployment rate and a 11.2 per cent underemployment rate.
Wages growth at a record lowThe other news on the labour market was confirmation that wages growth fell to a record low in the June quarter.
The key issue is the weakness in the economy and the labour market and the need for more government spending.