Australia's Unemployment Edges Up to 3.8%; Rate Hold Amid Inflation Dip
April 19, 2024Australian Unemployment Rate rises to 3.8% with a decrease of 7,000 jobs.
Despite job losses, the overall job market is considered healthy, with stable interest rates maintained by the Reserve Bank.
Inflation has dropped, yet a strong labor market might trigger wage pressures, potentially increasing inflation.
Upcoming inflation data will play a pivotal role in guiding future interest rate decisions.
Cost-of-living concerns remain amidst a generally strong labor market, which is seen as beneficial for the national budget.
Finance Minister and Shadow Treasurer have weighed in on labor market effects on the economy and household finances.
Economic challenges loom, possibly affecting the Australian Dollar's value, while interest rates are anticipated to remain unchanged with a chance of a cut in the latter half of the year.
Summary based on 4 sources
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Sources
The Sydney Morning Herald • Apr 18, 2024
All eyes on inflation as unemployment edges upSeeking Alpha • Apr 18, 2024
Australia's jobless rate rises to 3.8% in MarchThe Age • Apr 18, 2024
All eyes on inflation as unemployment edges upFXStreet • Apr 18, 2024
Unemployment Rate increases to 3.8% vs. 3.9 % expected