Opinion

Why unemployment is set to stay below 5% for years to come

By Peter Martin
August 17 2022 - 5:30am
Queues at the Woden Centrelink at the height of the pandemic. Picture: Karleen Minney
Queues at the Woden Centrelink at the height of the pandemic. Picture: Karleen Minney

Unfathomably, Australia's unemployment rate has sunk to 3.5 per cent. Even harder to believe is that it will soon sink lower - perhaps even this week, when the update is released on Thursday - and after that, if the ANZ's forecasts are correct, dip below the next threshold to two-point-something for the first time since 1974.