Economy / 16 August 2024
With folks like me on the job
There’s been a slight increase in the number of Aussies out of work, with the unemployment rate now at 4.2% – up 0.1% on last month. The result was a smidge up on what markets expected, as 24,000 people lost a job in July. Still, economists reckon the figures show a pretty resilient economy, with more than 58,000 mostly full-time jobs created. As for what this means for interest rates, the markets reckon it’s less likely the RBA will think about a cut this year… And as company reporting season rolls on, Telstra’s getting plenty of attention as it posted a net profit of $1.79 billion – a 13% fall on the previous year. But energy giant Origin reported a 30% surge in its profit, ending the financial year $1.4 billion in the black off the back of its domestic power plants.
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