The federal government’s 2022 Budget will forecast an official unemployment rate of just 3.75% by September. Treasurer Josh Frydenberg will use his Budget speech to note that the number of people receiving welfare payments has fallen by more than 700,000 and the labour market’s rebound is expected to reduce welfare costs by about $11 billion over the next four years.
From The Australian:
The faster rebound in the labour market following economic shutdowns during the pandemic will push wages growth to a 10-year high and entrench historically low unemployment rates…
