Pete Wargent Daily Blog: Unemployment to rise to 5.6pc imminently

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Monday, 20 January 2020

Unemployment to rise to 5.6pc imminently

Unemployment to surge

Team Westpac are not too optimistic about the Aussie economy reaching full employment, in fact expecting unemployment to surge precisely the other way to 5.6 per cent within just a few months from now.

Source: Westpac

Also in biz news this morning:

-unprecedented store closures to hit landlords and other retailers (SMH)

-no pay rises in 2020 as economic confidence 'in a crater' (SMH)

-collapse in consumer and business confidence locks Australia into slow growth (Australian)

Also in the SMH:

-nothing more the RBA can do (SMH)

Yay.

Have a great week!