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Labour force report for February will show another 30,000 people joined the workforce in the month, bringing the jobless rate down to 6.3 per cent from 6.4 per cent in January.
Over the last few years, buy now, pay later services also known as BNPL have taken the world by storm. But that doesn’t mean they are a new phenomenon.
Money by Gerard Cockburn  Australia has become the first country to implement industry standards for the buy now, pay later (BNPL) sector, designed to ensure safe practices and name and shame dodgy lenders. The new code drafted by the Australian Finance Industry Association will come into effect on Monday and is the first pledge by the emerging sector to improve safeguards for customers. Companies such as Afterpay, Klarna and Zip will have to adhere to new rules such as caps on the number of late payments a person can accrue, and mandatory financial checks before purchasing. The BNPL code is in response to a report from the corporate regulator and a Senate inquiry which called for greater self-regulation within the industry, after incidents where customers were being lobbed with high late fees, or instalment plans were approved for people under age.
Money by Gerard Cockburn  Australia has become the first country to implement industry standards for the buy now, pay later (BNPL) sector, designed to ensure safe practices and name and shame dodgy lenders. The new code drafted by the Australian Finance Industry Association will come into effect on Monday and is the first pledge by the emerging sector to improve safeguards for customers. Companies such as Afterpay, Klarna and Zip will have to adhere to new rules such as caps on the number of late payments a person can accrue, and mandatory financial checks before purchasing. The BNPL code is in response to a report from the corporate regulator and a Senate inquiry which called for greater self-regulation within the industry, after incidents where customers were being lobbed with high late fees, or instalment plans were approved for people under age.