of course this wont affect house prices or the permabulls buying more overpriced housing
THE global financial crisis could force unemployment towards the one-million mark next financial year, despite further expected dramatic interest rate cuts by the Reserve Bank.
In a gloomy new year outlook, economists are predicting unemployment could rise through 2009 from its current 4.4 per cent level towards 8 per cent, costing a further 400,000 people their jobs and pushing the number of unemployed to more than 900,000 - the worst level in a decade.
"Unemployment of 8 per cent in 2010 is on the cards. It's quite likely," said Melbourne Business School professor Mark Crosby.
