It's the jobless rate, stupid

The Coalition will rationalise the recent wave of job losses as the clearing of dead wood, but the consequences for wages and types of jobs on offer may be unpalatable to voters.

When one of Bill Clinton's advisors pointed out during the 1992 presidential race that what mattered to voters was "the economy, stupid", that maxim was pretty much interchangeable with "their jobs, stupid". When the economy grew, so did the number of jobs.

The danger facing the Abbott Government is that these two things are no longer interchangeable.

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