realestatebusiness logo
Subscribe to our newsletter SIGN UP

Rate rise likely after surprise fall in unemployment

15 January 2010 Reporter

A surprise fall in the unemployment rate will undoubtedly put pressure on the Reserve Bank to lift rates for the fourth consecutive time when they meet again on 2 February.

According to data from the Australian Bureau of Statistics (ABS), the unemployment rate fell 0.1 per cent in December 2009 to 5.5 per cent, its lowest level since April 2009.

The number of people unemployed in Australia decreased by 10,600, or 1.6 per cent, to 639,400.

The number of people in work grew by 35,200, three times more than economists had predicted.

Yesterday, the government took credit for the drop in unemployment, with acting Prime Minister Julia Gillard attributing the fall to the government’s stimulus packages.

“The result shows what we have achieved by pulling together in tough times and getting behind the government’s stimulus actions,” she said.

Rate rise likely after surprise fall in unemployment
lawyersweekly logo
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.