HECS Paid plus a Free Mobile

Employment statistics released for March 2006 show unemployment back down to the recent record low off 5.0%. We say 'recent' because in the recall of the majority of the population this level of unemployment was unheard of. In the 1990's it was 7 to 10%, in the 1980's it was 6 to 9%.

But if we go back to when the first wave of baby boomers entered the workforce in 1961, unemployment was 3.2% and it quickly got down to below 2% for 9 years from 1963 to 1971 when their brothers and sisters came along. This is counterintuitive - labour market floods - unemployment goes down not up? Answer: the economy was booming and demand for locally provided services and manufactured household goods was insatiable.

When these first baby boomers (who turn 60 this year) move out of the workforce, the big question is will the underutilised Generation X and Y floating around the world/cafes/academia step up to the plate to fill the hole, or will we need to see conscription (for work not war) introduced. We predict a compromise package deal - government pays off HECS debt, offers free mobile and broadband from Telstra for 5 years, if you sign a 5 year contract in the most desperately short employment categories.

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