What does the current state of the economy mean for the unemployment rate and your job?

For decades we’ve turned to well-read textbooks to help us understand how our economy will behave.

But right now something strange is happening and for some economists it’s a bit of a miracle. 

They’re calling it ‘immaculate disinflation’, because when interest rates rise dramatically, as they have in Australia, you’d expect lots of people to lose their jobs. 

But this time, the inflation rate is coming down and the unemployment rate remains relatively low. 

Today, business editor Ian Verrender explains the current economic weirdness. 

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Ian Verrender, ABC business editor