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
The Reserve Bank of Australia has criticised the major banks for failing to lend enough growth capital to small businesses keen on expansion, with deputy governor Guy Debelle telling the UBS conference he finds it "extraordinary" that even high-quality SMEs are finding it tough to access financing.
"It's not the absence of entrepreneurial spirit, it's the absence of entrepreneurial finance that's been the main factor holding that part of the economy back," Dr Debelle said at the UBS Australasia conference in Sydney.
Read the full article on the Australian Financial Review.