Unemployment forecast to hit 6.3 percent
A new forecast of global economy predicts Australia’s unemployment rate will peak at 6.3 percent, well below the Federal Treasury’s forecast of 6.75 percent.
The Organisation for Economic Cooperation and Development (OECD) expects Australia’s economy will grow by 0.8 percent this year and unemployment will peak at 6.3 percent.
The OECD also warned that countries need to be careful in withdrawing economic stimulus measures so the recovery does not stall.
“A premature withdrawal of the current monetary and fiscal policy stimulus could disrupt the recovery, raise job losses and intensify balance sheet pressures on the private sector,” the OECD warned.
A new forecast of the global economy predicts Australia’s unemployment rate will peak at 6.3 percent, well below the Federal Treasury’s forecast of 6.75 percent.
The Organisation for Economic Cooperation and Development (OECD) expects Australia’s economy will grow by 0.8 percent this year and unemployment will peak at 6.3 percent.
The OECD also warned that countries need to be careful in withdrawing economic stimulus measures so the recovery does not stall.
“A premature withdrawal of the current monetary and fiscal policy stimulus could disrupt the recovery, raise job losses and intensify balance sheet pressures on the private sector,” the OECD warned.
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