‘Remarkably bad situation’: Australians experiencing a GDP per capita recession

Shadow Treasurer Angus Taylor says Australians are “experiencing a recession”, which is a “remarkably bad situation” for the country. Australia’s unemployment rate in February dropped from 4.1 per cent to 3.7 per cent, according to the Australian Bureau of Statistics. “We’ve seen a population increase of over a million, so you would expect some jobs to along with that kind of population increase,” Mr Taylor told Sky News Australia. “This is part of the problem – part of the reason our standard of living has collapsed is our economy has stagnated. “GDP per capita recession. What does that mean in practice? Australians are experiencing a recession – the economy is going backwards for them. “That’s a remarkably bad situation that most Australians are facing.”