I doubt there were many folks who thought that we would be arguing about rising interest rates and scaling back the stimulus packages.
Less than a year ago most everyone thought we were going to hell.
Amazing what can happen in a year.
I wonder what we will be saying 12 months hence??
A SHOCK drop in the number of unemployed last month will force a radical review of the economic outlook by the Reserve Bank and the government and increases the chance of a 50-basis-point loan rate rise on Melbourne Cup day.
The jobless rate dropped to 5.7per cent in September as employers took on an additional 40,000 staff - the biggest monthly jobs gain since late 2007, when the resources boom was in full swing.
Nearly all the new positions were full-time although there was also a small rise in the number of part-time jobs. Economists now believe there is a chance the jobless rate may rise no higher.
"As amazing as it would have seemed six months ago, we now may have to contemplate the possibility that unemployment may already have peaked," BT Financial Group chief economist Chris Caton said.
