- by cnn
- 22 Sep 2023
With inflation having reached its peak, real wage growth is now expected by early 2024 and unemployment to peak at 4.5% in 2024-25.
Chalmers revealed updated forecasts on wages, with real wage growth of 0.75% for the year to June 2024, up half a point since the October budget, and on unemployment, predicted to be 3.5% in the June quarter of 2023 and 4.25% in the June quarter of 2024, both an improvement of a quarter point since October.
Guardian Australia and other outlets have reported that the increase in the jobseeker base rate is likely to be limited to people aged over 55.
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