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Australians should have a ‘high level of confidence’ in the economy

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Finance Minister Simon Birmingham says Australians should have a “high level of confidence” in the Australian economy despite a rise in the unemployment rate. Treasurer Josh Frydenberg announced the unemployment rate on Thursday, which has risen from 4.6 per cent to 5.2 per cent – covering a reference period from the 26th of September to the 9th of October. “These results today show the power of reopening, they show that in New South Wales as the state reopened some 22,000 additional jobs were created," Mr Birmingham said. "On the whole, we’ve got employment data today which shows the participation rate is up, which shows the effective unemployment rate is down, the number of people working zero hours is down." Mr Bimingham said the figures reflected the “continued resilience and strength on the whole of the Australian economy and of the labour market”.

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Finance Minister Simon Birmingham says Australians should have a “high level of confidence” in the Australian economy despite a rise in the unemployment rate.

Treasurer Josh Frydenberg announced the unemployment…



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