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CreditorWatch Blog

Unemployment steady at 3.9% but no signs of wages growth

Unemployment steady at 3.9% but no signs of wages growth

Reading Time: < 1 minute The unemployment rate for April 2022 remained steady with the revised March 2022 rate of 3.9 per cent. There appears to be very little slack remaining in the employment market, with employed people only increasing by 4,000 people (0.03 per cent) despite a record number of jobs being available. Youth (15-24 yr olds) unemployment also […]

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Economic Snapshot Update

Economic Snapshot Update

Reading Time: 2 minutes Anneke Thompson, Chief Economist at CreditorWatch, comments on The Reserve Bank of Australia’s (RBA) penultimate cash rate decision before the Federal Election which has determined the Official Cash Rate (OCR) should remain unchanged for at least one more month. “Despite three consecutive quarters of inflation being on or above the top range of the official […]

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Federal Budget: innovation agenda will drive future spending

Federal Budget: innovation agenda will drive future spending

Reading Time: 2 minutes Following Australia’s 2022 Federal Budget announcement last night, please find comments below from CreditorWatch CEO, Patrick Coghlan, on the impact this will have on Australian businesses and the wider economy.  Patrick Coghlan, CEO at CreditorWatch, says the innovation agenda will drive future spending: “This year’s announcement was designed to support the economy’s path out of […]

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Economic Update – Quarterly Wage Price Index

Economic Update – Quarterly Wage Price Index

Reading Time: 2 minutes Chief Economist comments on quarterly Wage Price Index  Good afternoon, The latest Australian Bureau of Statistics (ABS) quarterly Wage Price Index has revealed for the December quarter of 2021: Wages rose 0.7% this quarter and 2.3% over the year. The most significant industries to contribute to growth this quarter were the Health Care and social […]

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Harley’s Economic Update

Harley’s Economic Update

Reading Time: < 1 minute   The latest Australian Bureau of Statistics (ABS) stats on Australia’s Labour Force for January 2022 has revealed: The unemployment rate remained steady at 4.2%. The number of people employed increased by 12,900 to 13,255,000. The underemployment rate increased to 6.7%. Monthly hours worked decreased by 159 million hours.   CreditorWatch Chief Economist Harley Dale […]

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Economic Update – Harley Dale

Economic Update – Harley Dale

Reading Time: 2 minutes Inflation up despite Omicron dragging on business confidence Today’s 1.3% lift in the CPI for the quarter (up 3.5% for the 12 months to the December quarter) shows a substantial rise compared to the September 2021 quarter. This will likely accelerate the upward movement in household and business market interest rates irrespective of when the […]

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Economic Snapshot on Labour Force

Economic Snapshot on Labour Force

Reading Time: < 1 minute CreditorWatch’s Chief Economist, Harley Dale, comments on today’s ABS Labour Force data. December’s results saw Australia’s unemployment rate fall to 4.2 per cent in December 2021 from 4.6 per cent a month earlier. This was the lowest reading since August 2008 as COVID-19 lockdowns were lifted. Australia’s labour market ended 2021 in stunning fashion The labour market […]

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