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According to some economists, we need more unemployment in Australia to get inflation under control. Perhaps they would like to volunteer? (www.abc.net.au)

submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]

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File this under "I'm got mine, the rest of you can sod off"!

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[–] [email protected] 0 points 1 year ago (1 children)

It is there to serve us. The economist point is that everyone —in particular low income workers—will suffer as they everyone is effectively getting a 7% pay cut this year. That serves no one.

Ideally there would be a few stay at home parents (families who can afford it), lawyers and doctors partners, and retirees out to the work force. These are the people that have spare money to spend on things and are driving up prices. Not low income workers. Unfortunately the employment rate is the only proxy measurement we have for this though.

[–] [email protected] 1 points 1 year ago

But it's also the low wage earners that is most likely to lose their job because of supply and demand.