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Deloitte Access Economics’ weekly economic briefing forecasts a severe slowdown in Australia’s labour market in 2023 in response to the RBA’s aggressive interest rate hikes.
And this slowdown will hit blue collar workers especially hard.
“There are clear signs that the pace of improvement has started to moderate and the RBA’s pincer movement on consumers and credit sensitive sectors will cost jobs”, Deloitte notes.
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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.
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