The last time the jobless rate was this low was November 1974 – but flat wages and job insecurity are still prevalent
For the G7 rich nations the February jobless rate averaged 4.2%, while in neighbouring New Zealand it was just 3.2%The test for how well low jobless figures will go down with voters may come with what the University of Melbourne labour economist John De New dubs the “last piece of the puzzle”: wages.
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