An extra 60,600 Australians found work in May, so why have wages barely lifted? Australia has now managed to keep a rate of unemployment below 4% for three consecutive months. If things are so good, why is wage growth so low?
Australia’s unemployment rate could fall below 4%. What happens then? Australia’s unemployment rate is now 4.2% and, even with the effects of Omicron, there are good reasons to think it will fall further in 2022.
Australia’s record job vacancies are unlikely to lead to higher wages It is unlikely the COVID-related labour shortages are enough to make a permanent difference to wages.
Labour force statistics show the unemployment rate has become meaningless Australia’s labour force statistics for August again make the case for giving up on the rate of unemployment as an indicator of the state of the labour market.
