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RBA risks 60,000 more unemployed as rate fears grow
RBA’s inflation fight may raise unemployment, conflicting with Labor’s goal for lower jobless rates, warns economist Grudnoff.
RBA and Labor at odds over unemployment targets, economist warns of potential job losses amid rising interest rates
‘The RBA wants to see higher unemployment and the Labor Party wants to see lower unemployment.’ The Reserve Bank is in conflict with the government.
Matt Grudnoff, Senior Economist at the Australia Institute, argues that the RBA’s approach could lead to more unemployment.
He explains that the RBA is willing to increase interest rates if inflation picks up again.
This could result in higher unemployment, affecting 60,000 more people across Australia.
Grudnoff believes the economy can sustain an unemployment rate below 4.8% without drastic measures.
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