The last major piece of economic data we will see before the election has emerged and it offers hope to the once-struggling Coalition: unemployment has fallen below the magic level of 4% to register a rate starting with a three for the first time in many years: 3.9%.
The underemployment rate fell to 6.1% as the economy pivoted to full-time work. The economy had 92,000 more full-time workers in April and 88,000 fewer part-time workers, for a net gain of 4000 people in work. These are undeniably good numbers and we can expect to see a smiling Treasurer Josh Frydenberg boasting about them this afternoon.
Of course, most voters have already baked in their perception of the quality of the Coalition’s economic management. Many have already voted too. Can a late-breaking piece of good news change the course of an election?
The question is whether swinging voters are significantly engaged enough with conventional news sources to find out about the low unemployment rate between now and when polls close on Saturday. But with this data breaking the Coalition’s way, the chances of a late and uncertain night on Saturday are increasing.
