Australia’s unemployment will soon be higher than America’s

The US unemployment rate is falling fast while Australian manufacturers and farmers have a grim year ahead. The Aussie dollar has stalled at 90 US cents and job losses are on the rise.

It is very inconvenient that the US dollar has stopped rising and the Australian dollar has stopped falling.

February so far has seen a turnaround in each of them, so that the Australian dollar index is back up to where it was six months ago and the US dollar index is now unchanged over one and two years, despite some volatility within each year.

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