AUSTRALIA UNEMPLOYMENT RATE REMAINED AT A NEAR 50-YEAR LOW OF 3.5%

In terms of trend the unenmployment rate remained at 3.57%. There is an increase in employment to 13,883,100 from 13,851,400 giving an monthly change of 31,700 people, translated to a 0.2% of increase. (Yearly change: + 3.1%).

According to RBA, the unemployment rate is forecast to stay around 3.5% until mid-2023 and gradually increase and reach 4.5% y mid-2025.