As our unemployment rate falls below five per cent, prepare for wage-price spirals. Labour supply is plummeting. From CommSec:
"Overall, Australia’s population grew by 1.72 per cent over past year, easing away from the 40-year record pace of 2.2 per cent recorded in the year to March 2009. A total of 215,600 people migrated to Australia over the year to June – falling further away from the biggest annual total since European settlement which was recorded in the year to March 2009 (320,300)."
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