Disastrous jobs data will create more work for the RBA

It is too early to say whether the surge in the unemployment rate reflects the next stage of Australia's economic downturn, but it does suggest there is some way to go in the rebalancing process.

The unemployment rate rose sharply in July -- and now sits higher than the United States unemployment rate -- but it might take a few months to sort the signal from the noise. Nevertheless, the Australian economy remains weak and the Reserve Bank of Australia needs to take decisive actions to support the economy.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles