by proximity3 » 02 Jul 2010, 11:01
HowTo: deal with inflation. Or, petrol prices, fresh-food prices, unemployment and your mortgage
SYDNEY (Thomson Financial) – Job advertisements in newspapers and on the Internet averaged 249,915 per week in June, 0.8 percent fewer than in May but 36.1 percent more than a year earlier, Australia and New Zealand Banking Group Ltd (ANZ) said.
Score. Unemployment in Australia is 4.2%, a 32 or 33 (depending upon where you read it) year record low. Yes, that’s pretty low. More importantly, there’s an argument ‘out there’ that it may find its way below 4% next year. Currently, employment is growing at around 3% per year, while the economy itself grows at about 4%. Wages are growing at around 4.1% per year, only just below the Reserve Bank’s Action Station of 4.5%.
The government is aiming to ease this with attempts to increase labour force participation, currently running at 65% – pretty high. Skilled immigrants, older workers, etc. are being encouraged (I mentioned this in the very formative days of this blog)
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