Peter Martin, Crawford School of Public Policy, Australian National University
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.
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”
Monday’s white paper will define fuill employment more broadly than in the past as when “everyone who wants a job should be able to find one without searching for too long”.
Peter Martin, Crawford School of Public Policy, Australian National University
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.
Peter Martin, Crawford School of Public Policy, Australian National University
Philip Lowe is on the cusp of permanently changing Australia. He stands a good chance of being one of the best governors since the first, who ushered in the goal of full employment.
Unlike other age groups, 16- to 24-year-olds haven’t recovered the job losses they suffered during the Great Recession. Spurring investment and growth are key to getting them back to work.
The July employment report suggests the recent trend of lackluster gains in jobs and wages is continuing, and a rate hike should therefore be off the table for the time being.
In the lead-up to the federal government’s budget in May, we’ve been told to expect deep cuts in government spending. Such a policy is said to contribute to a short run decline in Australia’s economic…