Take Australia's unemployment rate shocker with a grain of salt

Australian society is changing and so are our work habits. Until the participation rate stabilises there's no point fretting over a small lift in the unemployment rate.

I'm not sure that markets should be particularly worried about the unemployment rate 'shocker'. Certainly households shouldn't be -- many analysts don't even view the recent lift as reliable, given the sample rotation, survey changes and the fact that the data is very volatile anyway. But let's just say the figures are right -- even then, panic merchants should quieten down.

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