Blindjustice BATONEFFECT wrote:
what has been done that actually might have improved our unemployment rate?
I can`t really think of anything
I'm not sure there's anything we can do to create net new employment, to be honest.
If we end up with a balanced budget in 4 years, with unemployment still under 15%, then that's probably a result (assuming we can write off some debt, banking or otherwise, as part of the process).
We had building jobs, tax revenue and tertiary effects which were all bubble related. 15% unemployment is probably our fluff-free norm, and the best position we can hope to be in, 10 years from now, is to have steady unemployment of about 10%. Like other developed welfare states (with minimum wages etc), we simply will not be able to attract jobs for those that cannot or will not engage above a certain skill set.