The Australian unemployment rate has fallen for the sixth consecutive month, down to 5.5 percent between March and April, after the JobKeeper wage subsidy ended. The Australian Bureau of Statistics (ABS) figures show that the jobless rate is now just 0.2 percent above the unemployment figures from start of the pandemic and 2 percent lower…
Jobless Rate Called an ‘Economic Miracle’ as Australian Unemployment Falls to 5.5 Percent
Population Growth Is ‘Biggest Constraint’ to Economic Recovery: Property Industry
Australia’s stagnant population growth is the biggest bottleneck on long-term economic recovery, the property industry says. “The Government has overseen a remarkable economic rebound, but the budget papers reveal that population growth will quickly become an anchor for our economy,” Property Council of Australia chief executive Ken Morrison said. Population growth is at around 0.1…
Wages Need to Grow Before Interest Rate Rises: RBA Governor
March 10, 2021
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Wages growth needs to be sustainably above three percent before the Reserve Bank of Australia (RBA) considers raising official interest rates, says RBA governor Philip Lowe. In his speech to The Australian Financial Review’s (AFR) business summit, the governor disagreed with market expectation for a cash rate increase late next year and then again in…
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