@gerardrennick70: RISING UNEMPLOYMENT WILL BE THE STRAW THAT BREAKS THE ECONOMY’S BACK. Last month, Australia lost 40,000 jobs which resulted in Australias highest unemployment rate in five years. Unemployment is the most important economic indicator by far. Once people lose their jobs they are unable to service their mortgage and put food on the table with many falling below the poverty line, causing the economy to cascade into a downward cycle that is very hard to turn around. Taxes will decline and social services will increase pushing the budget further into deficit. Successive governments have engaged in wasteful spending to prop up Australias economy over the last decade resulting in false and tepid economic growth that has masked productivity declines. Politicians won’t be able to bluff their way out of higher unemployment driven by private sector losses by continued wasteful government spending. They need to come up with real solutions that will drive private sector growth not the government sector. To do that the government needs to: 1) cut taxes on Australian incomes and profits by increasing taxes on foreign profits sent offshore 2) cut red tape and punitive government fees 3) Build infrastructure to drive down the cost of doing business and living, such as energy, water and transport 4) transform our education sector to focus on trade skills instead of University degrees. This will growth the productive manufacturing sector rather than the inefficient managerial sector. To many politicians are focused on driving a car that is no longer running, instead of fixing it. People First is has the skills to fix the economy. Sign up today to help us do it at PeopleFirstParty.au •••••••••••••••• “Australia's unemployment rate remained at 4.7 per cent in September, after August's jobless rate was revised upwards. It means the national unemployment rate remains at its highest level in the post-COVID era, in seasonally adjusted terms.”

Gerard Rennick 🇦🇺

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Region: AU

Thursday 15 October 2026 07:54:45 GMT