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Rising joblessness – trouble for Joe Hockey

Stephen Koukoulas writes in The Guardian (7.11.14) about the impact of rising joblessness and falling iron ore prices on the economy. ‘The economy appears to be set for a further year or two of sub-trend, low inflationary growth prone to rising unemployment. If so, Hockey may have to acknowledge the reality, so evident in the past 5 or 6 years, that a budget surplus relies on strong economy, and he is not presiding over one at the moment and that the budget will and should remain in deficit for every year of his first term’.

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