There are signs the employment market may be responding to lower interest rates with the first lift in internet job advertisements in seven months but the promised boost from the Morrison government's income tax cuts has yet to materialise across the nation's shopping malls.
It was the lowest number of ads in NSW since August 2015 when the state's jobless rate was 6 per cent. Currently, NSW's unemployment rate is 4.4 per cent. But NAB's cashless retail index, which is based on more than two million transactions carried out through the bank's debit and credit cards, suggests taxpayers are holding on to their refunds for now.
NAB chief economist Alan Oster says there are no signs yet that Australians have started spending their tax cuts"There is little to celebrate in these figures. We have been watching closely for signs of improvement in consumer spending, particularly given recent tax rebates which would have been received by some consumers in July," he said.
swrighteconomy I put my windfall into savings. I will spend it. When my mom dies, I will use it for return air fare. Thank you ScottMorrison
swrighteconomy They are saving, good for them. Don't hold your breath regarding the income tax cuts.
swrighteconomy Windfall tax cuts ! 😅😂🤣😚😊😝😛😊
swrighteconomy I didn’t spend it on purpose just to spite them
swrighteconomy As immigration grows, the quality of life for the average Australian declines
swrighteconomy Because the economy is so weak from 6 years of wage supression and not much else from these guys.
swrighteconomy