Jobless rise exposes Reserve's costly misread
In February the unemployment rate rose from 4.1 per cent to 4.3 per cent, providing further evidence the Reserve Bank misread the economy when it made two consecutive rate rises.
What a pity the RBA was in such a rush to hurt Australians.
When the RBA raised rates last month and also last week, it was looking back at old data that suggested the labour force and Australia’s economy was doing better that it really was.
The Bureau of Statistics revealed last Thursday that the unemployment rate in February........
