Loosening jobs market eases pressure on Reserve Bank
The Australian jobless rate has moved higher to 4.1 per cent despite a stronger-than-expected 38,500 employment increase.
The economy
Jim Chalmers’ third budget will have a surplus of $9.3 billion for this financial year, reports MICHELLE GRATTAN.
Tax cuts, easing inflation and wage growth are expected to underpin the fastest improvement in household incomes in years, according to Treasury forecasts.
Mortgage holders can breathe a sigh of relief following the Reserve Bank's decision to leave interest rates on hold at 4.35 per cent, as widely expected.
Update
Housing woes to be focus in federal budget
The debt owed by the federal government is expected to be cut in this year's federal budget, as Labor eyes delivering a back-to-back surplus.
Update
Retailers feel pinch as shoppers stay home
Australia's retail sales fell 0.4 per cent in March, following a 0.2 per cent lift in February, according to the Australian Bureau of Statistics.
Update
Slow progress on inflation tempers interest rate hopes
Australia's inflation rate has moderated further, despite coming in slightly above expectations at 3.6 per cent in the 12 months to March.
Australian employment decreased by around 7000 people in March, coming in below expectations of a 7200 job boost.
It's not easy keeping your head above water, says cartoonist PAUL DORIN.
The monthly headline consumer price index indicator increased 3.4 per cent annually in February in a softer-than-expected result.
Australians should get another wage boost to help them manage the cost-of-living crisis, the Albanese government says, as it moves to give people more relief.
Australia's jobless rate has fallen to 3.7 per cent, from 4.1 per cent, and back to where it was six months ago.
No surprises as the Reserve Bank leaves interest rates on hold in March and keeps its focus on moderating but still-elevated inflation.
Households are cutting back on clothing, footwear and meals to afford things they cannot do without like insurance, education – and Taylor Swift concerts.
The Australian economy has expanded 0.2 per cent in the three months to December broadly in line with expectations for muted growth.
Retail trade recovered in January, lifting 1.1 per cent over the month after a 2.1 per cent fall in December, but the underlying trend remains weak.
Australia's rate of inflation was softer than expected in January after holding steady at 3.4 per cent over the 12 months.
Working for home has levelled the playing field for young mothers and carers but work to embed the gains is needed, an economic think-tank says.
Conditions are finally turning after a bumper few years for the labour market, with some fields to be hit harder than others.
