Labour outlook gloomy: Melbourne Institute

The Melbourne Institute’s Monthly Bulletin of Economic Trends report has revealed that the growth outlook for Australia remains below trend as a result of reduced activity in the labour market.

“The outlook for labour remains gloomy. The declines in dwelling commencements and the number of building approvals are indicative of further possible slowdowns in the labour market, particularly in the construction sector,”  said Dr Micahel Chua, a member of the institute’s  applied macroeconomics team.

Published: 24-06-08