I don’t seek to be rude but this trend reminds me of JK Galbraith’s description of the Laffer Curve as a wishbone:
Pete is aware of and has referenced the different data series but why he has chosen to join the two in this way is beyond me. The methodology isn’t valid. Refer to the Australian Parliamentary Library report from last year linked at JobSeekers aint “job seekers”. (Note: Bill Cummings has corrected his previous mistake here)
There is quite a bit or work that went into the historical “job seeker” data by Conus. If the series is restored, as it should be and hopefully with increased transparency at a regional level, it will become useful again.
All source data series are linked at the employment page from the menu.