New data makes case for low interest rates

Unemployment remained at 6 per cent in February, according to figures released yesterday by the Australian Bureau of Statistics.

The number of people employed increased by 47,000 to 11.5 million, while jobless numbers rose by 10,000 to 742,000.

The participation rate increased by 0.2 percentage points to 64.8 per cent.

Meanwhile, consumers believe inflation is likely to fall, according to the Melbourne Institute’s monthly survey of consumer inflationary expectations.

The expected rate of inflation fell from 2.3 per cent in February to 2.1 per cent in March.

Expected pay growth for the coming 12 months dropped from 3.2 per cent in December 2013 to 1.8 per cent in March.

Written by Staff Reporter

Last Updated: 09 March 2022

Published: 14 March 2014