Deloitte joins RBA in tipping 4.5% Australian jobless rate thanks to slow consumer spending
by Paul Karp Chief political corrrespondent from World news | The Guardian on (#6E92G)
Slowdown in household spending is finally flowing through to Australia's jobs market, according to the latest forecasts from Deloitte Access Economics
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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