THG

Friday, 19^th June, 2009

Employment Figures and Housing Finance Affordability

The more things change, the more they stay the same. 

Australia’s true indication of economic health - the unemployment rate - has returned to the same levels as March 2009, 5.7% (seasonally adjusted).  This is an increase of 1.8% of the historic low of 3.9% in Feb 2008.  In effect, these figures illustrate that employment has remained stagnent for the last three months.  This is in line with our near zero GDP growth figures.

The consensus for unemployment in the medium term is that it will reach 8.5 - 9% by late next year.  But given we have not experienced trends with the same severity as rest of the developed world and have technically avoided a recession, Australia’s economic robustness may come to the fore.

Read the rest of the story here.