Australian interest rates Australian Politics

Close your eyes and lowball the auction?

Thursday 15 October 2026

As is often the case, the cyclical downturn hits jobless youth hardest. Unemployment for kids is fast approaching the lowflation period.

There are reasons to think the RBA will overshoot here.

The loosening of youth employment is not just a cyclical story. AI is playing a role in crimping entry-level jobs.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.