The low unemployment is a direct result of DEMOGRAPHICS, not necessarily economic management.

Simply put ... when plenty of babies are born they will mature into a workforce with plenty of peer competition for jobs - high unemployment. That was the case during the "baby boomer" era which started after World War II.

What we are in now is the opposite situation to that. Birth rates a generation ago were way down on previous generations, therefore not so many young people maturing into the workforce.

At the other end of the demographic, the baby boomer oldies are starting to retire in big numbers, and there aren't enough up-and-comers to replace them. Equating to low unemployment, and a "skills shortage" (which Howard has ignored for a decade).

Five simple words: "The Ageing of the Workforce"

It would not matter what party was in power. There would still be low unemployment.