According to the latest labor market data from the Central Statistical Office, the unemployment rate fell to 4.9 per cent in the second quarter of 2012 from 5.8 per cent in the second quarter of 2011. More recent data on retrenchment notices suggest that employment conditions may have subsequently deteriorated.
You no doubt will have many conversations in this room and during breaks about the usefulness of big data and new techniques for macroeconomic analysis.