Australia's unemployment rate increased slightly to 4.1% in June from 4% in May, despite the addition of 50,000 jobs, according to the Australian Bureau of Statistics (ABS). ABS spokesperson Bjorn Jarvis said the rise in unemployment was primarily due to a small increase in the number of Australians either working or actively seeking work. "The participation rate in June was only 0.1 percentage point lower than the historical high of 67.0% in November 2023," he said (see image). "The employment-to-population ratio rose by 0.1 percentage point to 64.2%, which was also close to its historical high of 64.4% in November 2023.” These labour statistics, along with the June quarter inflation data, will be key topics of discussion for the Reserve Bank of Australia's upcoming meeting on 5-6 August, where they will decide on the official interest rate. If you’re interested in buying property in Sydney, contact me on benhawley@azurafinancial.com.au or 0413 766 888. #economy #unemployment #interestrates
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📊 Australia's Unemployment and Interest Rates: What to Expect 📊 Australia's unemployment rate edged up to 4.1% in June, even with the creation of 50,000 new jobs, mostly full-time. This slight rise is due to more people looking for work, indicating a strong labor market. Despite this, the small increase in unemployment is unlikely to affect the Reserve Bank of Australia's (RBA) decision on interest rates next month. Economists are focusing more on the upcoming inflation data. The job market remains tight with plenty of vacancies, and there's now a slim chance of a rate hike in August. Most experts believe rates will stay steady for now, with potential cuts next year depending on inflation trends. Overall, the employment situation is positive. Unemployment is still lower than pre-pandemic levels, underemployment has decreased, and youth unemployment has improved slightly. In summary, while the job market remains strong, the upcoming inflation data will be crucial in determining the RBA's next move on interest rates. Stay tuned with Affluens360 Financial Group! #Economy #Unemployment #InterestRates #RBA #JobMarket #Inflation #AustraliaEconomy
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Head of Private Clients at Flint Group | Partner | JP | 0402 960 562 | salvadorhuetos@flintgroup.au | Dedicated Partner to HNW Individuals and Families. 🏘🏗👩👩👦👦
Australian Unemployment Rate Stays Remarkably Low In a testament to the resilience of the job market, Australia's #unemployment rate has barely nudged, sitting at 3.8% in March after a slight increase from February's 3.7%. Since June 2022, the unemployment figure has consistently started with a '3', except for January which climbed to 4.1%, defying earlier predictions of a spike following the Reserve Bank of Australia’s rate hikes aimed at cooling the economy 📈 Although this indicates robust employment conditions, it is a mixed blessing, as lowering the cash rate too soon could overheat the economy and fuel #inflation ⛽️ It's a delicate balance between sustaining job growth and managing inflation risks ⚖️ #AustraliaJobs #UnemploymentRate #EconomicTrends 📈🏦📉
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𝗔𝘀𝘀𝗶𝘀𝘁𝗶𝗻𝗴 𝗯𝗼𝗿𝗿𝗼𝘄𝗲𝗿𝘀 𝘄𝗶𝘁𝗵 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝘀 | Mortgage Broker | ESS income & Commercial Finance Specialist | Director at Win Square Finance
𝐉𝐨𝐛𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐬 𝐬𝐭𝐫𝐨𝐧𝐠 𝐫𝐮𝐧 The national unemployment rate remains in extraordinarily low territory, despite ticking up from 3.7% in February to 3.8% in March, according to the Australian Bureau of Statistics. The unemployment rate has had a ‘3’ in front of it every month since June 2022, apart from January when it climbed to 4.1%. When the Reserve Bank of #Australia (RBA) started increasing the cash rate in May 2022, some economists assumed that would lead to a sharp rise in unemployment, because the RBA’s interest rate rises were designed to slow the #economy (and thereby reduce inflation). Surprisingly, though, unemployment is lower now than it was then (4.0%). This strong employment market is a mixed blessing. On the one hand, it's great news that so many Australians have jobs. On the other hand, the Reserve Bank might be wary of reducing the cash rate anytime soon, in case it adds too much heat to the economy and puts upward pressure on inflation. #economy #jobs #money
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🔍 The Link Between Unemployment and Interest Rates in Australia Australia’s unemployment rate nudged up to 4.1% in June, still lower than in many leading nations 🌍. With the US at 4.1%, the UK at 4.4%, China at 5.0%, and Canada and the Eurozone both at 6.4%, Australia remains comparatively strong 💪. The Reserve Bank of Australia is closely watching these figures as they influence decisions on the cash rate. 📊 A rise in unemployment alongside a slowing economy could ease inflation and lead to a rate cut. Conversely, a tight labour market and rising wages may prompt caution against rate reductions. #AustraliaEconomy #InterestRates #Unemployment #ReserveBank
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The national unemployment rate remains in extraordinarily low territory, despite ticking up from 3.7% in February to 3.8% in March, according to the Australian Bureau of Statistics. The unemployment rate has had a ‘3’ in front of it every month since June 2022, apart from January when it climbed to 4.1%. When the Reserve Bank of Australia (RBA) started increasing the cash rate in May 2022, some economists assumed that would lead to a sharp rise in unemployment, because the RBA’s interest rate rises were designed to slow the economy (and thereby reduce inflation). Surprisingly, though, unemployment is lower now than it was then (4.0%). This strong employment market is a mixed blessing. On the one hand, it's great news that so many Australians have jobs. On the other hand, the Reserve Bank might be wary of reducing the cash rate anytime soon, in case it adds too much heat to the economy and puts upward pressure on inflation. Please feel free to reach out to us. You can book a 15 minute call with Luke here https://bit.ly/49qG9ll #economy #jobs #money
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Unemployment Rate Falls The national unemployment rate experienced an unexpected improvement, decreasing from 4.1% in April to 4.0% in May, according to the Australian Bureau of Statistics. Key Points: Current rate: 4.0% in May Historical average: 6.6% since 1978 Peak: 11.2% in 1992 during the 'recession we had to have' Recent low: 3.5% in 2022 and 2023 Despite the economic slowdown over the past 18 months, unemployment remains significantly low by historical standards. The Reserve Bank of Australia closely monitors the unemployment rate when making decisions regarding the cash rate. Given the current low unemployment rate, reducing interest rates may pose a challenge as it could potentially overheat the economy and drive up inflation. #economy #jobs #homeloans
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𝗝𝗼𝗯𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝗦𝘁𝗿𝗼𝗻𝗴 𝗥𝘂𝗻 The national unemployment rate remains in extraordinarily low territory, despite ticking up from 3.7% in February to 3.8% in March, according to the Australian Bureau of Statistics. The unemployment rate has had a ‘3’ in front of it every month since June 2022, apart from January when it climbed to 4.1%. When the Reserve Bank of Australia (RBA) started increasing the cash rate in May 2022, some economists assumed that would lead to a sharp rise in unemployment, because the RBA’s interest rate rises were designed to slow the economy (and thereby reduce inflation). Surprisingly, though, unemployment is lower now than it was then (4.0%). This strong employment market is a mixed blessing. On the one hand, it's great news that so many Australians have jobs. On the other hand, the Reserve Bank might be wary of reducing the cash rate anytime soon, in case it adds too much heat to the economy and puts upward pressure on inflation. #economy #jobs #money
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Jobs market continues strong run 💪🏃 The national unemployment rate remains in extraordinarily low territory, despite ticking up from 3.7% in February to 3.8% in March, according to the Australian Bureau of Statistics. The unemployment rate has had a ‘3’ in front of it every month since June 2022, apart from January when it climbed to 4.1%. When the Reserve Bank of Australia (RBA) started increasing the cash rate in May 2022, some economists assumed that would lead to a sharp rise in unemployment, because the RBA’s interest rate rises were designed to slow the economy (and thereby reduce inflation). Surprisingly, though, unemployment is lower now than it was then (4.0%). This strong employment market is a mixed blessing. On the one hand, it's great news that so many Australians have jobs. On the other hand, the Reserve Bank might be wary of reducing the cash rate anytime soon, in case it adds too much heat to the economy and puts upward pressure on inflation. #economy #jobs #money #realestateaccountants
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𝗧𝗵𝗲 𝗹𝗶𝗻𝗸 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗨𝗻𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗥𝗮𝘁𝗲𝘀 Australia’s unemployment rate edged up from 4.0% in May to 4.1% in June, according to the Australian Bureau of Statistics, but is still lower than in many other prominent countries. The unemployment rate is 4.1% in America, 4.4% in the UK, 5.0% in China, 6.4% in Canada and also 6.4% in the Euro zone. The unemployment rate is one of the data points the Reserve Bank board is watching very closely, as it decides what to do with the cash rate. If unemployment rises, in tandem with a weakening economy, that would put downward pressure on inflation, which would strengthen the case for the Reserve Bank to reduce the cash rate. But if the labour market remains tight and wages growth (currently 4.1% per year) remains elevated, that would put upward pressure on inflation, which would make the Reserve Bank wary of cutting rates. #economy #jobs #homeloans
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I think the Australian unemployment rate will reach 5-6% in the next 1-2 years, to around levels just before Covid. What do you think? Please remember property markets aren’t affected necessarily by national unemployment numbers - but rather local markets are impacted by local unemployment conditions. For example in the mid 2010’s national unemployment was 6% yet Australia experienced the biggest property boom before Covid.
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