According to recent figures from the Australian Bureau of Statistics, the number of unemployed Australians fell in February to 5.80 per cent or 0.5 per cent lower than it was in January.
This figure is positive news, as it comes on the back of two consecutive quarters of GDP growth, suggesting the economy is not only moving in the right direction but quicker than expected.
In February 2020, Australia was breaking records for the longest sustained economic growth without a recession with the seasonally adjusted unemployment rate at 5.1 per cent, which means we are edging closer to pre COVID-19 levels for employment growth.
That said, there might be some skeletons in the closet, given that the true number of unemployed is unknown, as JobKeeper has cushioned this. Although the expectation is that when this scheme ends at the end of the month, job losses will increase. Read more…..
Chart of the Day
Icarus TV
Warren Buffett is Chairman of Berkshire Hathaway, a holding company whose investments range from GEICO Insurance, to American Express and Coca-Cola, to Borsheims jewelry store in his hometown of Omaha, Nebraska.
