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Unemployment Unchanged, But Tipped to Slowly Rise Despite economic challenges, Australia's unemployment rate remained steady at 4.2% in August: - Unemployment: Held at 4.2%, unchanged from July. - Underemployment: Increased slightly from 6.3% to 6.5%. - RBA Forecast: Unemployment expected to rise to 4.3% by year-end and 4.4% by mid-2025. While the labour market remains tight, the Reserve Bank anticipates a gradual easing as labour demand slows relative to supply. #economy #jobs #money

Australian Bureau of Statistics reports the headline unemployment rate has remained steady at 4.1% in September. With employment rising by around 64,000 people and the number of unemployed falling around 9,000, the unemployment rate remained at 4.1%, where it has generally been over the past six months. A steady unemployment rate is a good sign for the Reserve Bank of Australia in dealing with the difficult task of bringing inflation down without too much economic damage. ✅ Please remember: the decision to purchase should be based on your personal economy and long-term strategy, not on macroeconomic data and trends. There are markets within markets, suburbs within cities, and properties within suburbs that all perform differently. To determine whether purchasing is suitable for you, book a call. 📞 Empower Wealth #investmentproperty #investmentsavvymortgagebroker #mortgagebroker

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

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

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. #inflation #australianjobs #rba #monetarypolicy #australianrealestate #australianproperty #sydneypropertymarket #buyersagentsydney

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

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

Australia's unemployment rate fell to 4% in May from 4.1% in April after 39,700 people found work. The unemployment figure turned out to be better than market expectations and highlights the ongoing strength of the local jobs market amidst the fastest rate hike cycle in decades. Interestingly, about one in two jobs created in the 12 months to March were in industries that are primarily government funded i.e. health care and social assistance industries. The data is unlikely to change market expectations for the RBA to keep rates on hold at their next meeting. https://lnkd.in/gJQbXRTs.

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

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