- October 31, 2018
- Posted by: Rogers Property Group
- Category: Australian Property Market, International Property Market, Latest News, Queensland Property News
Unemployment numbers are set to decrease further amidst new data released showing that job vacancies in August 2018 were the highest on record. That is 241,000 jobs were vacant and ready to be taken in August 2018 according to the ABS. Once unemployment gets below 5% that becomes a relatively tight job market. You must remember that there are plenty of people out there that just don’t want to be employed. The way our social welfare system works, these people are able to do this and continue to live off welfare. There are also those people that are just permanently unemployable. This makes up a go chunk of that 5% of people unemployed.
Lower unemployment means increased upwards pressure on wages which will happen in the next few years. This will in turn be reinvested in to housing and the property cycle starts again!
Great news for investors.