30 years ago, Labor Prime Minister Paul Keating adopted an ambitious official target for Australian unemployment. The Albanese government just passed up a historic opportunity to go even further.
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In the white paper, prepared by Treasury, the government commits to full employment, which it defines as “everyone who wants a job being able to find one without searching for too long”
Australia has never clearly defined what “full employment” means. That’s about to change – and a more ambitious definition could help keep 150,000 or more Australians in work.
The commitment we made to full employment after World War II ushered in decades of prosperity. The paths we chose after this war will be as important.
