Sky News Business Editor Ross Greenwood says the unemployment rate – which came in lower than anticipated – has gone back to where it was in December 2022.
“This really again shows that Australia’s jobs market remains very strong, there’s no doubt, it’s one of the things that keeps Australian families going as costs and interest rates have been rising,” Mr Greenwood said.
This does make you wonder how we will crew the 45 Collins class subs Keating believes would be a better option to the nuclear one's?
That's because you need 4 jobs to pay the rent and buy food. 🤷♂️
2024: They're still serving bread in the soup lines. Raise it 75bps lads.
Just another excuse to raise rates another 50bps smh
2 hours a week isn't employed it's exploitation of numbers nothing else! 🙄
sure it has lol
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Interest rate rises ‘pretty much done’ as money markets react to SVB collapseFollowing the collapse of SVB, money markets are predicting that interest rate rises, intended to curb inflation, are 'pretty much done,' says Sky News reporter Ross Greenwood. Last night, the ASX rate predictor indicated just an 11 per cent chance of the central bank increasing its rate by a quarter of a per cent at the next meeting in three weeks. Recent activity on money markets suggests that the odds of a rate hike will decrease even further. As a sign of market thinking, the 2-year Government bond yield was at 3.17 per cent today nearly a quarter of a per cent below the Reserve Bank cash rate of 3.6 per cent. So inflation it is, then. Still half a dozen rates to go. Predictions are usually wrong.
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Consumer confidence plunges to its lowest level since April 2020Sky News Business Reporter Edward Boyd says consumer confidence, following the RBA’s decision to hike interest rates for a 10th time, has plunged to its lowest level since April 2020. “People are not feeling confident at the moment with spending money – they're really concerned, according to ANZ Roy Morgan, about rising interest rates,” Mr Boyd told Sky News Australia. “This one of the, sort of, signs that we’re seeing of people tightening up their spending, maybe staying at home more, putting more money on the mortgage, and that’s what the Reserve Bank wants.” That was the plan...reduced spending will (supposedly) reduce inflation The RBA are so out of touch. Just because food petrol gas electricity rates are all going up. Doesn’t mean that that is inflation This is all on Labor’s watch . What has Labor done to help the RBA , kept spending , no policies in place to help RBA got rid of policies that were working and the list goes on . This is on Labor’s head. Clueless and reckless
Source: SkyNewsAust - 🏆 7. / 78 Read more »