The jobless rate looks set to start rising again, leaving whoever prevails in the Liberal leadership stoush with some explaining to do.
Prime Minister Tony Abbott faces a potential spill when Liberal MPs gather in Canberra on Tuesday for the first parliamentary sitting week of the year.
Such political upheaval is doing little to help already low business and consumer confidence.
Australian Chamber of Commerce and Industry chief Kate Carnell said it was hampering investment and employment.
"This sort of instability causes confidence problems which does flow through to such things as unemployment rates," she told ABC radio on Friday.
The Reserve Bank already expects a renewed rise in the jobless rate.
In its quarterly monetary policy statement, the central bank cut its economic forecasts for growth and inflation, backing this week's decision to cut the official cash rate.
It says while employment indicators have picked up since late 2013, at this stage they point to only modest employment growth.
"The slightly weaker outlook for GDP growth in the near term implies that the unemployment rate is likely to rise a bit further and peak a bit later than earlier expected," the RBA said.
The jobless hit a 12-year high of 6.3 per cent last October, but eased slightly to 6.1 per cent by December.
Business groups also want clarification on whether a planned levy on big business meant to pay for the scrapped paid parental leave scheme will remain to pay for a new childcare package, or if a promised tax cut will proceed.
Mr Abbott has confirmed small businesses will get a promised 1.5 per cent cut in the corporate tax rate.
"We'll have more to say about the taxation arrangements in the next few weeks, and that will properly address the levy," Mr Hockey told reporters in Sydney.
The 1.5 per cent levy on the nation's 3400 largest companies is due to operate from July 1, coinciding with a 1.5 per cent cut in the corporate tax rate to 28.5 per cent.
"It would be an absolute mess if we ended up with different tax rates for different corporations based on how big they are," Ms Carnell said.
"It would be stupid."
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