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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Unemployment to peak at 6.8pc: Access Economics

By Staff Reporter
19 October 2009 | 1 minute read

Australia’s unemployment rate is expected to reach 6.8 per cent in mid-2010, a far cry from the 9 per cent predicted by some analysts earlier this year.

According to Access Economics’ September business outlook, Australia’s job market is more flexible than it has been in past recessions, with people losing hours rather than jobs.

The report also said the Reserve Bank of Australia (RBA) would lift interest rates by 2 percentage points over the next 18 to 24 months, with cash rates reaching 5 per cent by early 2011.

“The economy is slowly returning to normal, and that return to ‘normal’ in the economy means a return to ‘normal’ for interest rates,” the report said.

“Recovery will see underlying inflation back at or above 3 per cent by early 2011. And the economy can expect to see growth in the economy back at 3 per cent – trend – at about the same time.”

Unemployment to peak at 6.8pc: Access Economics
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Enter your email to receive the latest real estate advice and tools to help you sell.