The roles price has barely budged even because the central bankers do all they’ll to chill the economic system. What is going on on?
The Reserve Financial institution of Australia’s (RBA) price hike cycle is popping out to be barely a barnacle on the nice leviathan that’s the Australian labour market. Unemployment has barely budged even because the central bankers do all they’ll to chill the economic system. The unemployment price nonetheless sits at 3.5% — seasonally adjusted — with firms determined so as to add full-time staff.
As the subsequent chart exhibits, that price of three.5% is simply scarcely above the document low of three.4%.
The RBA has indicated it will likely be paying shut consideration to the labour market to tell selections over future price hikes.
Learn extra concerning the newest unemployment numbers…
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