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Shock plunge in jobless rate adds to pressure on Reserve Bank for super-sized rate hikes
The June unemployment rate plunged below expectations of 3.8% to 3.5%, the lowest since 1974. Globally, central banks are hiking rates by as much as 100 basis to fight inflation with fears such a tight jobs market will force the Reserve Bank to follow suit.
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By [email protected] (ABC News)The June unemployment rate plunged below expectations of 3.8% to 3.5%, the lowest since 1974. Globally, central banks are hiking rates by as much as 100 basis to fight inflation with fears such a tight jobs market will force the Reserve Bank to follow suit.