Disastrous jobs data will create more work for the RBA

Disastrous jobs data will create more work for the RBA

By Callam Pickering

Australia’s unemployment rate is now higher than the United States — which is at 6. 2 per cent — but the Federal Reserve is currently rocking emergency level rates that are stuck firmly at the zero lower bound.

On a seasonally-adjusted basis, the unemployment rate rose to 6. 4 per cent — its highest level in twelve years — and is 0. 7 percentage points higher over the year.

The unemployment rate rose sharply in July — and now sits higher than the United States unemployment rate — but it might take a few months to sort the signal from the noise.

Read more here: Business Spectator

    

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>