Opinion: Don’t be fooled: Good economic stories often sound like bad news | Jessica Irvine
My grandma had a favourite saying which she cross-stitched into a sign which hung on the wall of her bathroom. I have a replica copy which hangs above my kettle in my kitchen.
Some people joined the ranks of the employed from the sidelines, having been previously not looking for or available for work. But a higher number found employment as blessed relief from being on the unemployment queue, which shrank by 54,000 people. The national jobless queue is now under half a million people for the first time since before the global financial crisis.
And yet, news of this astonishing development was almost universally met – by the media, politicians and lobby groups alike – with muted caution.Why? Well, partly, I suspect because it’s far too soon for a newly elected federal government to claim much credit for this historic achievement.But largely, it’s because every armchair economist can see that a sizzling hot jobs market and economy means borrowers will likely be hit with higher interest costs sooner than anticipated.
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