Yes, i think that's right - an unemployment spike plus a population decline as FIFOs (or perhaps some permanent residents in search of more fruitful pastures) disappeared. Simple population movements matter a lot - Australia's aggressive population growth is the difference at the moment between economic stagnation/mild recession, and headline solid rates of economic expansion. One of my pet peeves with the way headline economic data is presented is the general failure to adjust for population movements.
ONT Price at posting:
$6.73 Sentiment: Hold Disclosure: Held
