Treasurer Josh Frydenberg has signalled that further reducing the unemployment rate will be a priority in the federal government’s Budget on 11 May. He will state in pre-Budget speech on 29 April that both the Treasury and the Reserve Bank are now of the view that growth in wages and inflation will require the official unemployment rate to fall below 5%.
Frydenberg had indicated in September that the government would not focus on Budget repair until the nation’s jobless rate had fallen “comfortably” below 6%. Budget repair is now unlikely to be a priority for the government until at least 2022.
From The Australian:
