Unemployment has fallen to a surprise 48-year low. It could mean more bad news on interest rates

"Accordingly, the policy debate at the August RBA meeting will likely be between a 50 versus 75bp hike, and a 100bp hike cannot be ruled out given how other central banks are weighing these risks," said NAB economist Taylor Nugent."I think the Reserve Bank will remain under pressure to raise rates again at their August meeting, " he told ABC News on Thursday.

Deutsche Bank economist Phil O'Donaghoe said it was one of the best labour market reports in Australian history. CommSec senior economist Ryan Felsman called it a "staggering low" and a "remarkable" figure, a sign of an "incredibly tight" labour market, while economist Alice Cho, from financial services company Nomura, called it a "stunningly strong" report.The unemployment rate fell for both men and women, both by 0.4 per percentage points. The 3.4 per cent unemployment rate for women was the lowest since February 1974, while the 3.

Full-time jobs have now increased for eight straight months and Mr Oliver said he expects the unemployment rate would likely fall further, to about 3.2 per cent in the next three to six months.

AllenMarea pablovinales True Rate 8. 4 False News.

AllenMarea pablovinales The true rate is 8. 4. False News.

So no credit to LNP then, to Morrison and Frydenberg as they had been claiming?

where's Jimbo Chalmers whining and bitching about what he inherited ?

Well done ScottMorrisonMP on making this possible when you were in office

Closer to the True Rate. Roy Morgan has released its unemployment estimate for June, with the nation’s unemployment rate falling to an equal pandemic low of 7.8% and underemployment falling to 8.5%:

mmm... and those remaining NEED assistance to secure work! not punitive measures to ensure they CAN'T get work! how about going back to govt operated job search/training... assistance to employers willing to take on those with disabilities?... but oh no.... Tony_Burke

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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 »

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. 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. rachelclun swrighteconomy Well done ScoMo and Josh
Source: smh - 🏆 6. / 80 Read more »