The overlooked truth in Australia's jobless recovery

Roy Morgan Research warns that businesses are rapidly reducing employment, accelerating pressure on interest rates -- the reverse of what the market thinks is happening.

Currency speculators are playing a dangerous game. The higher retail sales data in January -- Alan Kohler dubs it the breakfast recovery -- has sent the Australian dollar surging as traders now believe there will be no pressure to lower interest rates.

And the inflationary pressures reinforce that belief.

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