Unemployment falls to shock low of 3.5 per cent

The nation’s unemployment rate has tumbled to a new near 50-year low of 3.5 per cent, increasing pressure on the Reserve Bank to deliver a super-sized lift in the official interest rate at its next meeting.

The number of people formally unemployed fell by 54,300. There are now 493,000 people officially unemployed, the lowest number since October 2008.The jobless rate is 1.7 percentage points lower than in March 2020, ahead of the pandemic recession. “The large fall in the unemployment rate this month reflects more people than usual entering employment and also lower than usual numbers of employed people becoming unemployed,” he said.

Overnight, Canada’s central bank lifted rates there by a full percentage point to 2.5 per cent. The central banks of New Zealand and South Korea this week also lifted their central borrowing rates sharply in the face of high inflation and tight jobs markets. The underemployment rate increased by 0.3 percentage points in June, but it remains 2.7 percentage points lower than its March 2020 rate.

rachelclun swrighteconomy Well done ScoMo and Josh

rachelclun swrighteconomy When you’re in government, it’s the best unemployment figures for years. When you’re in opposition, it presents a critical labour shortage.

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Unemployment falls to shock low of 3.5 per centBREAKING: The nation’s unemployment rate has tumbled to a new near 50-year low of 3.5 per cent, increasing pressure on the Reserve Bank to deliver a super-sized lift in the official interest rate at its next meeting. | rachelclun swrighteconomy rachelclun swrighteconomy All under Albo !! rachelclun swrighteconomy Where are all the sooks who said under Morrison these figures are fake. Lol weak as rachelclun swrighteconomy Fake news!!
Source: theage - 🏆 8. / 77 Read more »

Unemployment falls to shock low of 3.5 per centThe drop increases pressure on the Reserve Bank to lift interest rates hard at its next meeting. Did you ask them how they calculated it with so many unvaccinated not able to work? Print more money, create more debt and let the future generation deal with it, for now lets enjoy our profits and growing graphs, negative gear my yacht so that i can put a deposit in another 3 properties hence rent has skyrocketed. Cha ching!
Source: brisbanetimes - 🏆 13. / 67 Read more »