The Australian Bureau of Statistics on Thursday reported the national jobless rate tumbled by 0.4 percentage points in June. At 3.5 per cent, unemployment is at its lowest since August 1974 when it was 2.7 per cent.

Oliver Peterson spoke to Shane Wright, Senior economics writer at The Age and Sydney Morning Herald to discuss how our jobless rate can drop to an all-time low, whilst the number of people within the job market is the highest on record.

"No one was expecting such a low rate, such a lift in employment and the fall in the number of people out of work," he told Oly.

"This is telling us that the job market nationally is exceptionally tight which should translate into higher wages. Higher wages leads to inflation contributes to inflation which is already going up."

The Australian Bureau of Statistics on Thursday reported the national jobless rate tumbled by 0.4 percentage points in June. At 3.5 per cent, unemployment is at its lowest since August 1974 when it was 2.7 per cent.
Oliver Peterson spoke to Shane Wright, Senior economics writer at The Age and Sydney Morning Herald to discuss how our jobless rate can drop to an all-time low, whilst the number of people within the job market is the highest on record.
"No one was expecting such a low rate, such a lift in employment and the fall in the number of people out of work," he told Oly.
"This is telling us that the job market nationally is exceptionally tight which should translate into higher wages. Higher wages leads to inflation contributes to inflation which is already going up."

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Perth LIVE provides you with everything you need for your run home. If it happens in Perth you will hear it on Perth LIVE.

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