amogosolomon
Member
The Australian Unemployment rate is the percentage of the total work force in Australia that is unemployed and actively seeking employment during the previous month.
What opened the core that drove the Australian labour market towards a full recovery pattern is strongly tied to productivity gains, strong institutions, and robust economic fundamentals.
Also, the Reserve Bank of Australia's monetary policy through ultra-low interest rates and the massive quantitative easing has aided to reshape the economic landscape plagued by the pandemic hit.
According to Westpac senior economist, Matthew Hassan,
"The RBA will be patient before lifting the cash rate and anticipate a change in late 2022 or early 2023. They want to see a sustained improvement in wages growth and inflation before it lifts the cash rate as moving too early could derail the economic recovery."
Currently, the biggest constraint lies in the rising cases of the omicron virus hitting hard and disrupting the work flow. The positive is that, wide-scale administration of vaccines is aiding in minimizing the spread.
Kindly hit the link below for the complete publication
https://actmarkets.com/the-australian-job-market-steadies-further-growth-likely/
