Economics Editor, The Age
Good politics and bad ecconomics seem to go hand in hand unfortunately.
If the government is wanting to be seen to be proactive in keeping unemployment low it makes perfect sense. Especially when the media is going to be on every increase like a spider monkey.
Don't forget Pauline Hanson is back on the front page of MX newspaper!
It makes perfect sense unless you believe we should have an open world labor market in which case none in australia would be able to compete.It also raises the question if you would rather pay unemployment benefits or money to those who will send most of it overseas.
Seems to make (economic) sense to me. Labour is in excess, lets reduce the supply of labour. Keeps local unemployment lower than it otherwise would be.
Reducing skilled immigrant intakes makes perfect sense when unemployment is rising and the economic sting is affecting millions of working class australians. We must look with-in to utilize our own labour resources and not add to the compounding unemployment, social, enviromental issues of the day.Australia needs a complete overhaul of economic structure, and not these short-term bandaid measures that favour sectors of the community. Short term bandaid measures compound and blind the vision going forward. Whilst it helps some, it has grave financial, social consequences for other needy groups.
According to Michael Pascoe's numbers, even with this reduction still means a 12% increase on the previous year's skilled permanent migrant intake - and that it represents a bare 5% impact on total migration this year, that's running close 332,000 now - still a record high.
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