I love economists. They're the only people who can be consistently wrong, yet continue to spout rubbish as if they're consistently right.

Take the latest bout of economistic foot-in-mouth, over unemployment figures.

On Tuesday morning, every economist quoted believed the jobs market had peaked and unemployment rates for the June quarter would rise, from 4.2 per cent to maybe 4.4 per cent or even more.


There was "mounting evidence" the quarterly results, due out that morning, would show "the trough in unemployment rates is now behind us," huffed big bank economist number one.

This was followed by an observation