Updated

Updated · Capital Brief · Jul 18

Australian Economists See June Unemployment Rising as Labour Market Weakens After Years of Strength

Updated

Updated · Capital Brief · Jul 18

Australian Economists See June Unemployment Rising as Labour Market Weakens After Years of Strength

2 articles · Updated · Capital Brief · Jul 18

June labour-force data due on July 23 is expected to show Australia’s unemployment rate edging higher, reinforcing signs the jobs market is losing momentum.
Economists say the shift follows a recent upward drift in unemployment after years in which hiring stayed unexpectedly resilient through the Reserve Bank’s interest-rate hiking cycle.
That resilience repeatedly wrongfooted forecasters, but some now judge the weakening to be genuine and gradual rather than a sharp deterioration.
The release will give the Reserve Bank one of its first critical readings in weeks on whether labour-market softness is becoming entrenched in the broader economy.

Sources

With job vacancies now falling, is Australia's resilient economy finally tipping into a downturn?

Is Australia's official unemployment rate hiding a deeper crisis in underemployment and job quality?

As the job market weakens, will the Reserve Bank risk a recession to win its fight against inflation?

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