The Australian Bureau of Statistics has revealed the unemployment rate has tumbled by 0.4 percentage points in June to 3.5 per cent. It is at its lowest since August 1974, when it was 2.7 per cent.

While more people working and earning money is good in many regards, it does place additional pressure on an already complicated economy.

The low jobless rate increases the chance of employers pushing up wage rates to attract staff, which in turn adds to the inflationary pressures already evident across the economy.

And for borrowers, that could mean an even tighter squeeze on the hip pocket as the Reserve Bank continues to raise interest rates.

To unpack how more people working is impacting the economy and what these jobs figures actually mean, economics correspondent Rachel Clun joins Please Explain host Nathanael Cooper.

The Australian Bureau of Statistics has revealed the unemployment rate has tumbled by 0.4 percentage points in June to 3.5 per cent. It is at its lowest since August 1974, when it was 2.7 per cent.
While more people working and earning money is good in many regards, it does place additional pressure on an already complicated economy.
The low jobless rate increases the chance of employers pushing up wage rates to attract staff, which in turn adds to the inflationary pressures already evident across the economy.
And for borrowers, that could mean an even tighter squeeze on the hip pocket as the Reserve Bank continues to raise interest rates.
To unpack how more people working is impacting the economy and what these jobs figures actually mean, economics correspondent Rachel Clun joins Please Explain host Nathanael Cooper.

The Morning Edition (formerly Please Explain) brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition (formerly Please Explain) brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

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