It was the good news of the month on the Australian economic front. The Australian Bureau of Statistics (ABS) announced on June 10 that the official unemployment rate had dropped to 5.2%. But economic commentators have warned that this is close to the lowest level of unemployment the economy can bear without risking inflation.
This was not good news for the 600,900 people who the ABS estimates are still officially unemployed (on a seasonally adjusted basis).