Labour market situation is ‘complicated’ – RBA’s Lowe
Unemployment likely to worsen despite initial signs of recovery, governor says
The Australian labour market is being buffeted by several different forces as firms recover from the immediate Covid-19 shock but also look ahead to an economy transformed by the virus, Philip Lowe said today (July 21).
The worst of the shock is over and “we have now turned the corner”, the Reserve Bank of Australia governor said in a speech. In June, hours worked by Australians rose by 4% and the number of people in employment rose by 210,000.
But the overall picture is “complicated”, Lowe
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