@LapdogYou might care to read Ross Gittens in The Age today, talking about the current state of the economy with low inflation and high employment, his words not mine.
Gittens also talks about the Misery Index comprising the addition of the unemployment rate and the inflation. When current RBA governor Philip Lowe was entering university the Misery Index was peaking above 20% compared to today with an index reading below 7%. And believe you me 7% is way better than 20%.
In the early 1980’s i experienced my first round of redundancies at my first employer straight out of university. As a 24 year old it was confronting watching as people you had worked with for a couple of years were suddenly gone and this was in a large company that had excellent relations with the unions. During the next three years I experienced two more redundancy rounds and in one of those a husband and wife were both made redundant on the same day.
These were the years when the Australian economy was transitioning from a closed economy with rigid industry structures to an open flexible economy with a floating exchange rate. Brutal at times and courageously lead by Hawke and Keating.
Movements in exchange rates do not necessarily reflect the health of an economy.
