So much for the employment data excitement

Yeah yeah. The government spins. The media jumps.

The latest ABS employment/unemployment data came out last week.

Crack the champagne, or perhaps even the sparking wine:

Seasonally adjusted estimates for February 2021:

• Unemployment rate decreased to 5.8%.

• Participation rate remained at 66.1%.

• Employment increased to 13,006,900.

But is the data that good? We…