Latest / Best of Business / Perspective with Heather du Plessis-Allan: There's a recovery story in today's unemployment figures

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Perspective with Heather du Plessis-Allan: There's a recovery story in today's unemployment figures · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from news Talk set be
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  Speaker 2: Okay, on the face of it, that unemployment figure out
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  Speaker 2: today is not good. It's gone up. It's now at
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  Speaker 2: five point four percent, now, sitting at a high that
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  Speaker 2: we haven't seen in almost eleven years. The last time
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  Speaker 2: we were anywhere near five point four percent was in
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  Speaker 2: September twenty fifteen. Actually, though, there is a recovery story here.
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  Speaker 2: If you look under the hood, we have added fifteen
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  Speaker 2: thousand jobs to the economy. There are more people wanting
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  Speaker 2: to work as well. On top of that, fewer, as
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  Speaker 2: informetric says, sitting on the sidelines, we have fewer young
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  Speaker 2: people bumming around now. More of them are either in
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  Speaker 2: work training or education. Most of the people who found
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  Speaker 2: work in the last quarter are in part time work, though,
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  Speaker 2: which suggests that employers are taking a chance here. They're
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  Speaker 2: not totally convinced of the recovery just yet, at least
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  Speaker 2: not enough to offer full time work, but they are
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  Speaker 2: confident enough to take something of a chance. Now. I
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  Speaker 2: don't want to be polyannersh here and suggesting good news
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  Speaker 2: where there isn't any and trying to pretend things are
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  Speaker 2: fine when they're not fine. I don't want to do that,
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  Speaker 2: but I do think it is worth us focusing on
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  Speaker 2: the good stuff in these numbers to give this recovery
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  Speaker 2: a chance. There is enough stuff out there, There are
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  Speaker 2: enough numbers out there now to suggest that we are
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  Speaker 2: actually on the right side of things, and this recovery
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  Speaker 2: is happening. But there is still a wobble, isn't there.
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  Speaker 2: When you talk to some businesses, they're still unimpressed by
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  Speaker 2: what they're seeing come in the door. And I just
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  Speaker 2: wonder if we're holding off a little here. Maybe we've
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  Speaker 2: been spooked by the false storm in twenty twenty five
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  Speaker 2: and we want to make sure this is actually the
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  Speaker 2: recovery that we believe it's going to be. Maybe we're
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  Speaker 2: still unsure of what the Reserve Bank is going to do.
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  Speaker 2: Maybe we want to get the feel of Annabrema in
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  Speaker 2: her first go in a couple of weeks from now
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  Speaker 2: before we start investing money. We have good signs. We
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  Speaker 2: have consumer confidence, we have business confidence, we have GDP growth,
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  Speaker 2: we have retail spending growth, we have improved manufacturing numbers.
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  Speaker 2: The list goes on and then add this the stuff
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  Speaker 2: under the unemployment number. Add that to the list, Step
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  Speaker 2: back and assess what really does look like a recovery
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  Speaker 2: if we just give it the chance.
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