Slowdown in household spending is finally flowing through to Australia’s jobs market, according to the latest forecasts from Deloitte Access Economics
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Australia’s dream run with near record low unemployment is tipped to end due to weaker household consumption, with the jobless rate expected to increase from 3.7% to 4.5% by mid next year.
That is the conclusion of the latest Deloitte Access Economics employment forecasts, which attribute economic slowdown in part to the delayed effect of faster-than-expected rate rises by the Reserve Bank of Australia.
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