Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

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.

Advertisement
Advertisement

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
default
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
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.