where's the interest wednesday, page-20

Sck, yep unemployment is one of the big issues, and logic suggests a higher AUD will do damage there, however that isn't supported by the numbers, to date unemployment figures have declined as our dollar has appreciated. To the extent you could argue they have almost become contrarian indicators. Although technically I am now seeing the first signs that a significant shift in employment numbers may be coming.

I agree regarding jobs going overseas, however to date that isn't resulting in higher unemployment, we're just creating new positions. People are doing different jobs not fewer jobs. So in the case of employment, so far it has been a case of we've adjusted rather than faltered.