Explore the latest developments concerning Live: Unemployment rate.
Live: Unemployment rate rises to 4.5 per cent in April
Optus owner Singtel says it is looking to sell a minority stake in it.
Singtel said it was “open to working with potential Australian partners that align with its objectives of ensuring that Optus continues to be a strong alternative operator in the industry”.
The financial markets have now priced in a slightly lower chance of a Reserve Bank interest rate hike in June.
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This note on the jobs market comes from Westpac economist Ryan Wells.
The April Labour Force Survey (LFS) was genuinely weaker than expected.
RBA still stuck between a rock and a hike place
The jobs market appears to be weakening, but the RBA’s inflation fight is still in its early stages, and there’s only one way this ends.
The latest jobs data delivered a little of what the Reserve Bank needs. But whether it’s enough to prevent at least one more interest rate hike remains to be seen.
As this column has been arguing for the last few months, the RBA’s inflation fighting efforts will be made harder by two key factors: the enormous boom in household wealth in the past two years (about $3 trillion all up), and the fact that spending driven by structural changes in the economy (such as investment in data centres, the energy transition and the critical minerals sector) will continue almost irrespective of where interest rates get to.
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