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RBA predicts unemployment rate will fall even further

After reaching 3.5 per cent in June, unemployment is expected to continue to decline.

RBA predicts unemployment rate will fall even further
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  • Shared from Investor Daily
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  • August 08, 2022
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  • 1 minute read
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RBA predicts unemployment rate will fall even further
In its quarterly statement on monetary policy released on Friday, the Reserve Bank (RBA) predicted that Australia’s unemployment rate will drop to as low as 3.25 per cent in the coming months.

According to the RBA’s updated forecasts, the jobless rate will end the year at 3.4 per cent, down from a previous prediction of 3.7 per cent made by the central bank in May.

Unemployment is then expected to gradually lift to 3.5 per cent in December 2023, 3.7 per cent in June 2024, and 4.0 per cent in December 2024.

Read more at Investor Daily

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