๐๐ผ๐ฏ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ง๐ถ๐ด๐ต๐๐ฒ๐ป๐ ๐๐๐ฒ๐ป ๐๐๐ฟ๐๐ต๐ฒ๐ฟ
In a surprise result, the unemployment rate has declined, falling from 3.7% in April to 3.6% in May, according to new data from the Australian Bureau of Statistics.
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With the Reserve Bank of Australia (RBA) pushing up interest rates to slow the economy and reduce inflation, the RBA had forecast that unemployment would soon be in the 4s. But, for now at least, itโs heading in the opposite direction.
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Three states and territories have unemployment rates below the national average โ the ACT (2.9%), New South Wales (3.1%) and the Northern Territory (3.3%).
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For the rest of the country, unemployment is 3.6% in Western Australia, 3.7% in Victoria, 3.9% in Queensland and South Australia, and 4.0% in Tasmania.
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In historical terms, the unemployment rate is very low right now.
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