And last week, economists from ANZ said the unemployment rate could fall further from here — to 2.9 per cent — before the RBA's rate hikes really begin to bite next year.They said "underemployment" could keep trending down this year, and the participation rate could hit another record high early next year.
And, they said, even though international borders have reopened, the pace of the increase in the extra supply of workers in Australia is likely to remain relatively slow for a while. It will be fascinating to see, in a couple of months, what happens to that job vacancies graph above.However, the RBA seems determined to lift interest rates quickly over the next few months to return rates to more normal levels and to try to squeeze some inflation out of the system.Economists say the RBA will likely lift rates by another 0.5 percentage points this Tuesday, which would bring the target to 1.85 per cent.
. Bushit propaganda is being used to push for IMMIGRATION POLICIES that aim to PREVENT wage rises to Australia's working class. Say NO to working visa changes. Protect Aus wages. Protect egalitarian Aus. Higher wages now! .
. If unemployment was really that low, wages would be rising faster than inflation. But wages haven't risen in over ten years- an it would take double-digit wage rises to catch back up. If you want a worker, pay more. There are PLENTY of workers unemployed or underemployed. .
This is not a positive thing. If we can’t operate an aviation industry, operate a hotel or staff a restaurant then we need to ask why government are still spraying money around. Fast track the working visas and slash public spending otherwise interest rates will rocket.
Who cares about unemployment and under employment is so damn high
What about IT&T? So many jobs are outsouced/insouced.
Of course there are plenty of jobs to go round. Think of all the sacked ones. Some not on benefits, living off savings or supported by a partner. Who fills that gap? Until people are allowed to apply for all jobs ( no vaccine requirements), these types of stats are meaningless.
When are you going to start reporting on the fact that the 'Unemployment Rate' has becoming a meaningless metric - where working 1 hour a week classifies a person as 'employed' - while the Underemployment Rate continues to grow, as people need two or three jobs to make a living!?
The unemployed and vacancies at the same rate.... skills is the missing picture, get the right skills matched to the available jobs.
I just hope they don't use the low unemployment numbers as an excuse to massively increase immigration. We have a housing crisis at the moment. We need to fix housing. How can we have a thriving economy when workers have no where to live?
Artificial employment numbers when you leave your job for a career change as people are desperate for staff
Inflation continues to rise so Labor prints more debt causing inflation to continue to rise whilst they put mandate inefficient renewable energy which will send energy costs soaring too.
The two faces of ABC eh, it's spelt, hypocrisy sad '5% ABC is no more. This headline is worthy of the AUSTRALIAN. But not even Murdoch rags say 5%. Official is close to 10%, and underemployment 20%.'
Anyone can show an unemployment rate of 2.9 when you are considered employed if you work 1 hour a week. The only true measure is full-time-equivalent based on a 38 - 40 hour week, as was used back in the 60's until Pollies decided didn't want to be accountable for the real rate
ABC will analyse the unemployment rate for trans bricklayers & find that it is unacceptably high
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