| 02 9982 2466

Australian economy moved slowly into 2013

The latest pair of indicators show that the economy moved slowly into the new year, with building approvals falling by 2 per cent for the third month in a row. The weakness of the building and other sectors showed itself in a slowing of job ads , which fell by one per cent on the internet and in newspapers. Although a standalone marginal figure, it was the tenth fall in a row, marking the lowest point of jobs advertised in three years. These economic figures point to a general consensus among some leading economists that the job unemployment rate will rise to 5.5 per cent from 5.4 per cent.

This is a still a relatively low unemployment figure but along with the high Australian dollar points to the economy making a slow start to 2013.

Posted on 4 February '13 by , under General News.

Leave a Comment

You must be logged in to post a comment.

Join Our Mailing List!

Subscribe to our mailing list to receive all the latest financial newsletter updates as well as information on important dates on our business calendar.

Recent Updates

Firm News

Amnesty means that 24,000 businesses own up to underpaying Aussies superannuation

An amnesty scheme which ended earlier this month has caused around 24,000 businesses to admit to underpayment of their worker's super. A total of 588 million dollars will be distributed to almost 400,00 individuals.

The scheme, which covered payments from the introduction of super in 1992, gave employers the opportunity to come clean without any consequences as long as they paid the unpaid super as well as 10% interest for every year the money was overdue.

The ATO will be directing its attention at any businesses that did not admit fault and these businesses will face severe penalties.

Many individuals are looking to access their superannuation early in order to have support during these times. Although there is criticism of early access to super, this facility has been helpful to many families to keep afloat.

Business Calender