Australian Economy

ANZ: Closed borders to deliver 4.4% unemployment by end-2022

Leith van Onselen
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Last week’s federal budget projected that Australia’s unemployment rate would fall to 4.5% by 2023-24:

Forecast unemployment rate

Unemployment is projected to fall to its lowest level since the GFC.

New projections from ANZ are far more bullish, tipping that Australia’s unemployment rate will fall to 4.4% by the end of 2022:

ANZ unemployment projections

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.