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Unemployment Rises but Job Market Remains Tight 💼 Australia's unemployment rate has edged up slightly, from 4% in May to 4.1% in June. While this increase might raise eyebrows, it's a critical data point that the Reserve Bank is keeping a close eye on as it deliberates on the future of the cash rate. With the economy showing signs of softening, a continued rise in unemployment could tip the scales towards a cash rate reduction—something many are watching closely. Despite this uptick, the job market remains tight, highlighting the complex dynamics at play in our economy right now. What do you think? Could this be a turning point for the Reserve Bank's next move? Watch the full discussion: https://buff.ly/3YUDldx #forthepropertyinvestor #realestateau #realestateaustralia #propertyinvestingaustralia #property #propertyinvesting #propertynews #sydney #brisbane #melbourne #adelaide #perth

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

📊👷♂️ Australian Unemployment on the Rise to 3.9% - A Strategy in Motion? Australia's #unemployment rate has ticked up again, marking the second month of increase - from 3.8% in October to 3.9% in November. This shift could indicate the Reserve Bank of Australia's measures to temper the economy and curb inflation are taking effect. This rise in unemployment, noted by the Australian Bureau of Statistics, aligns with the #RBA's focus on economic indicators, particularly the job market. Should this trend suggest an ongoing economic cooldown, the Reserve Bank might pause its rate hikes, aiming to balance the inflation equation. #UnemploymentRate #AustralianEconomy #ReserveBankStrategy #EconomicTrends 📈💼🇦🇺

Unemployment rises to 4.1% The unemployment rate now has a '4' in front of it, after hovering in the 3s for 22 consecutive months. Unemployment rose from 3.9% in December to 4.1% in January, according to the Australian Bureau of Statistics. The gradual increase in unemployment over the past year (see graph) has been caused by the battle against inflation. The Reserve Bank has pushed up interest rates to take the heat out of the economy – which has both reduced inflation and (predictably) increased unemployment. #unemployment is expected to be 4.3% at the end of this year, according to recent Reserve Bank forecasts. A rising unemployment rate (and rising business insolvency rate) is being closely monitored and is the main reason why the #RBA may reduce #interestrates sooner than planned. #economy #jobs #money

In June, the Reserve Bank of Australia announced its fifth consecutive decision to leave interest rates unchanged after 13 rate hikes starting in May 2022. The RBA's decision to hold rates steady comes amid a low unemployment rate and near record-high labour force participation, indicating the job market remains strong despite some job losses. As employment levels have quickly rebounded after job cuts, the RBA seems comfortable leaving rates steady for now following last year's aggressive tightening cycle. You can tune in here: ▶️https://lnkd.in/gf72yrg3 #UrbanPropertyInvestor #SamSaggers #PodcastAboutInvesting #PropertyInvestment #RealEstateTrends #RealEstateAustralia #AustralianRealEstate #PropertyInvestment #PropertyMarket

#Unemployment stays at 3.9%. The national unemployment rate has now remained under 4% for 22 consecutive months Unemployment clocked in at 3.9% in December, the same as November, according to the latest data from the Australian Bureau of Statistics. Despite a slowdown in the #economy – which the Reserve Bank has deliberately created by raising interest rates – unemployment remains at historically low levels. The Reserve Bank of Australia recently forecast that unemployment would rise to 4% in June, while Treasury is expecting it to be 4.25%.

The national #unemployment rate climbed from 3.6% in September to 3.7% in October, according to the Australian Bureau of Statistics, but remains very low in historical terms. Indeed, unemployment has now had a ‘3’ in front of it for 20 consecutive months. The Reserve Bank of Australia recently forecast that unemployment would rise to 4.0% by June 2024 and 4.3% by June 2025. That's because the Reserve Bank – in an attempt to drive down #inflation – has been raising interest rates to cool the economy, which, in turn, is expected to lead to higher unemployment.

𝗨𝗻𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗡𝘂𝗱𝗴𝗲𝘀 𝗛𝗶𝗴𝗵𝗲𝗿 The national unemployment rate climbed from 3.6% in September to 3.7% in October, according to the Australian Bureau of Statistics, but remains very low in historical terms. Indeed, unemployment has now had a ‘3’ in front of it for 20 consecutive months. The Reserve Bank recently forecast that unemployment would rise to 4.0% by June 2024 and 4.3% by June 2025. That's because the Reserve Bank – in an attempt to drive down inflation – has been raising interest rates to cool the economy, which, in turn, is expected to lead to higher unemployment. #economy #jobs #interestrates

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

Reserve Bank of Australia Minutes Q1 GDP growth had been very weak, wage growth looked to have peaked. We needed to be vigilant to upside risks to inflation, data suggested upside risk for May CPI. The August forecast round would allow staff to carefully judge spare capacity in economy. A hike might be needed if board judged policy was not sufficiently restrictive. The board saw downside risks to the labour market, vacancy rates pointed to weakness. The continued rapid rise in business insolvencies would be negative for jobs. Judgements about spare capacity were very uncertain, should be treated with caution. The board judged the case for holding rates steady stronger than for hiking. Inflation expectations still anchored, but market premia had drifted higher. It's wise to give little weight to upward revisions to household consumption. Economic uncertainty meant it was difficult to rule in or out future changes in policy. A material rise in inflation expectations could require significantly higher rates. We judged that it's still possible to bring inflation to target while keeping employment gains. The unemployment rate could rise quickly as it had done in the past. Recent data is not sufficient to change the outlook for inflation returning to target by 2026.