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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Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans
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Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans
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Award-Winning Eastern Suburbs Property Specialist I Principal at Laing + Simmons Double Bay I Top Performer Laing & Simmons Network
Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans
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Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans
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Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans
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Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans
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Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans
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Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans #therentalspecialists
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Unemployment remains at 4.1% The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. #economy #jobs #homeloans #therentalspecialists
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Unemployment remains at 4.1% 🧑🏭👷👩💼👮👩🌾 The unemployment rate continues to track at low levels, despite weakness in parts of the economy. The national unemployment rate in September was just 4.1%, the same as the previous month, according to new data from the Australian Bureau of Statistics (see graph). Meanwhile, the state-by-state unemployment rates were: * ACT = 3.4% * WA = 3.6% * NSW = 3.8% * Tas = 4.0% * Qld = 4.1% * NT = 4.2% * SA = 4.3% * Vic = 4.4% The Reserve Bank of Australia (RBA) has been trying to walk a fine line – make interest rates high enough to slow the economy (and thereby reduce inflation) but not so high that unemployment rises significantly. With unemployment remaining at such a low level, the RBA will think twice before cutting interest rates. LMS Takeaway - It would be surprising to see a rate cut this year, unfortunately. Plan accordingly! #economy #jobs #interestrates #realestateaccountants
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