Unemployment hits record low, but less people looking for work
While the unemployment figure dropped to 3.9 per cent, only 4,000 new jobs were created and 7,000 people gave up...READ MORE
Income tax cuts promised by the federal government will almost certainly lift consumer spending, but the strain upon households from power bills, and the chance of interest rate increases, means Australians are just as likely to use any benefit to repay debt.
Tax cuts are also nowhere near as effective as stronger wage growth in correcting soft consumer sentiment, economists told The Australian Financial Review's quarterly survey, although the same experts are largely confident that wage inflation will accelerate in 2018 and help to narrow the confidence gap between business and consumers.
Read the full article on the Australian Financial Review.