Budget+2007+-+Labour+Market+Growth

This article by Mike Steketee raises the issue of even though we have the lowest unemployment figures for over 30 years, there is still room for improvement, as approximately 600,000 people are still looking for work.

Australia is very close to full employment, as current unemployment rates are at 4.5%. However, the creation of another 600,000 jobs would not reduce the unemployment figure to 0%. Hint - look in your texts and find the definitions for who is included in measuring unemployment.
 * How can this be?


 * Who are the winners, and who are the losers when we have such low unemployment?