Another point is wages. What if there is a further dip of
unemployment from 4.5% to 1.5% but salaries are halved? No point,
if you ask me.
Say, a clerk earns $600, a fresh graduate draws $1,000, a toliet
cleaner makes $300 and a lowly manager $1,600.
In fact, lower salaries will produce lower unemployment since
companies can afford to hire more. China and Indian workers will
also no longer be interested in working here so there will be more
vacancies.
Bottomline is, unemployment figures don't tell the whole
story.
Regards
