For the 5th year running, it’s that time of year, when the economists start promising the recovery is here. (remember ‘green shoots‘ in 2009?) Meanwhile, in the real world, there are twice as many jobless Kiwis as five years ago, and rising. If the pattern holds, later this year the economists will be lamenting the mysterious under-performance of the economy, as petrol hits a record price again.
Btw, according to Treasury, it will now be 2017 before unemployment gets back down to even 5%. It was 4.2% when Key came to power.