Australia Unemployment Rate Drops To 6.8% In November
The jobless rate in Australia came in at a seasonally adjusted 6.8 percent in November, the Australian Bureau of Statistics said on Thursday – beating expectations for 7.0 percent, which would have been unchanged.
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AUD/USD Forex Technical Analysis – Needs to Close Over .7578 to Sustain Upside Momentum
GMT, the AUD/USD is trading .7591, up 0.0013 or +0.17%. Figures from the Australian Bureau of Statistics (ABS) on Thursday showed employment jumped by a stellar 90,000 in November, following an …
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Australian household wealth surges despite impact of pandemic
Lifestyle by Rebecca Le May
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Subscriber only Household wealth in Australia has hit a record high despite the coronavirus pandemic, partly due to people squirrelling away savings in their banks. Australian Bureau of Statistics data released on Thursday show total household wealth rose by 1.7 per cent to a record high of $11,351b in the September quarter, eclipsing the previous high of $11,248b recorded in the December quarter last year. The increase was mainly attributed to a 5.4 per cent surge in deposits, a 1.2 per cent lift in property values and a similar increase in superannuation balances.
Australian economy expected to rebound in 2020-21 australianherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from australianherald.com Daily Mail and Mail on Sunday newspapers.
Australia s road ahead is challenging but the economy is expected to do significantly better than the federal government previously feared as unemployment rebounds and the budget recovers faster. Treasurer Josh Frydenberg has revealed Australia s unemployment rate is expected to recover to pre-COVID19 levels in around four years, which will be much sooner than in past recessions. Australia is outperforming all advanced economies, he said. The new figures expect unemployment to drop to 6.25 per cent in 2021-22 and dramatically fall to just 5.25 per cent by 2023-24. The labour data from the Australian Bureau of Statistics showed a decrease in unemployment of 0.2 per cent from seven per cent in October, despite the number of people looking for a job slightly increasing.