13  See for example Bryan Caplan (2004), “Gratitude Journals and Loewenstein’s Challenge,” posting to weblog Marginal Revolution, July 30. 14  For a summary of related issues and research, see Helliwell and Barrington-Leigh, “Subjective Well-Being,” in note 7. BIS Review 64/2010  5  More generally, economic policymakers should pay attention to family and community cohesion.
While the recent labour market release indicates outcomes could be better than this, there would still need to be a significant further decline in the unemployment rate before the Australian labour market would be nearing full employment. Prior to the pandemic, the unemployment rate was around 5 per cent.