Search


	Podcast:		Please Explain
	Episode:		How more people working is putting a strain on the economy
	Category:		News & Politics
	Duration:		00:10:28
	Publish Date:		2022-07-15 03:36:01
	Description:		The Australian Bureau of Statistics has revealed the unemployment rate has tumbled by 0.4 percentage points in June to 3.5 per cent. It is at its lowest since August 1974, when it was 2.7 per cent. While more people working and earning money is good in many regards, it does place additional pressure on an already complicated economy. The low jobless rate increases the chance of employers pushing up wage rates to attract staff, which in turn adds to the inflationary pressures already evident across the economy. And for borrowers, that could mean an even tighter squeeze on the hip pocket as the Reserve Bank continues to raise interest rates. To unpack how more people working is impacting the economy and what these jobs figures actually mean, economics correspondent Rachel Clun joins Please Explain host Nathanael Cooper. Subscribe to The Age & SMH: https://subscribe.smh.com.au/ See omnystudio.com/listener for privacy information.
	Total Play:		0