Business
How is Australia’s jobs rebound affecting ASX shares?
The Australian economic recovery to the COVID-19 pandemic recession has been swift and sudden. Australia’s jobs rebound has led to the fastest six months of economic expansion ever recorded, according to ABS data. This, in turn, has positively affected growth on the ASX.
Seek data showed that new job advertisements are now back to pre-COVID-19 levels, with some analysts predicting the job market is about to hit fever-pitch. This could also lead to wage growth – which has been meagre for a long time now – as Australia’s lack of immigration levels create extra demand for Australian workers.
ANZ economist Felicity Emmett told the ABC that “the unemployment rate has dropped like a stone. We weren’t expecting the…
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