News Articles for Craig James

A boom in jobs has pushed down Australia's unemployment rate and prompted economists to trim their interest rate outlook though some have cast doubt on the data.

Westpac, St. George, HSBC, JP Morgan and AMP now expect the Reserve Bank won't raise rates in April - but ANZ and CBA still forecast a rate hike.

As the Reserve Bank board prepares to announce an expected 25 basis point rise in the cash rate, figures show Australian trade surplus slipping.

Rising interest rates and economic pressure have failed to dent WA's jobless rate, steady at 3.5 per cent, while national data hit a fresh record.

WA exports to Japan have had their strongest 12 months on record, while the state's imports also hit a new high.

Retail spending was up 10.5 per cent in Western Australia in July compared to the same month in 2021, but most states substantially outperformed the west.

There's hope that families and small businesses could soon get a reprieve from high petrol prices, with Commsec predicting a 19 cent per litre drop ahead.

As the Reserve Bank hikes the cash rate for the third month in a row, rents are higher across city and regional areas.

The unemployment rate in WA has fallen to 2.9 per cent in April, amid an environment of soaring inflation.

The ANZ-Roy Morgan consumer confidence index has fallen for a fourth straight week to its lowest level since mid-August 2020.

The cash rate could be expected to rise over time to 2.5 per cent, RBA governor Philip Lowe has said, while the central bank forecasts inflation could get worse before it gets better.

Consumer confidence has dropped to its lowest level since September 2020, undermined by persistent concerns over the inflation outlook.

WA's internal economy grew just 0.1 per cent in the December quarter as spending on mining equipment slowed, while national GDP rose 3.4 per cent.

Retail sales fell 3.5 per cent in Western Australia in December, amid a soft month across the nation as Omicron hit.

Worker shortages and supply chain issues could disrupt major projects in WA worth more than $50 billion. Click for our updated list of major projects.

Petrol prices have struck their highest level in 20 months, despite cars being used less because of coronavirus lockdowns.

Growth in Western Australia's domestic economy was the second lowest nationally in the June quarter, but state final demand was still 12 per cent larger than June quarter 2020.

Rising fuel and rent costs have contributed to a spike in inflation in Perth, with prices up 4.2 per cent in the year to June.

A rise in the number of men seeking work has led to a rise in the state's unemployment rate by almost 0.5 percentage points in June.

Unemployment fell slightly to 4.9 per cent in Western Australia, despite 15,000 people losing jobs in April.

While Western Australia has recorded solid growth in residential property values in recent months, it's still yet to catch up to its east coast counterparts.

Perth consumer prices rose 1.4 per cent in the March quarter as electricity bill relief was used up by households and petrol prices jumped.

The minutes of the Reserve Bank's April board meeting have reiterated that the cash rate will stay at a record low 0.1 per cent until 2024.

Relatively high confidence among shoppers and the continued drop in the unemployment rate saw modest retail spending growth in the first few weeks of 2021.

More than 13,000 Western Australian jobs were lost in January, including 9,900 by women, according to new labour market data.

New figures show Australia looks set for solid economic growth in coming months, with unemployment falling further as jobs vacancies surged to an 18-month high.

The diplomatic row between Australian and China rolls on, but new figures show trade between the two countries has not been totally throttled by the war of words.

The Australian economy needs to be weaned off government support to ensure there is a business-led recovery, Prime Minister Scott Morrison says.

Household spending rocketed up 11.7 per cent in WA in the September quarter, while national GDP grew 3.3 per cent.

Australia's budget deficit has fallen almost $4 billion short of where it was expected to be at this time, new figures show.

West Aussies had a huge boost in purchasing power in the year to June, and the state's economy grew despite a small national drop.

Australia is building the largest houses and apartments in the world, according to the latest data from the CommSec Home Size Trends Report.

Perth prices rose 1.8 per cent in the September quarter, the sharpest lift since June 2006, after a big fall during the COVID-19 shutdown.

The jobless rate in WA is among the country's lowest, with some workers finding jobs and some leaving the labour force.

Reserve Bank officials have left the cash rate unchanged at a record low 0.25 per cent, allowing Treasurer Josh Frydenberg's federal budget to have the economic limelight.

More than 32,000 Western Australians found jobs in August, and the unemployment rate plunged 1.3 percentage points, as the nation posted a big improvement.

WA's domestic economy contracted 6 per cent in the June quarter, slightly better than national figures showing Australia is in recession.

A lift in the number of employed women is a positive in WA's June jobs data, as unemployment hit its highest level since 1994.

Retail trade rebounded a record 16.3 per cent in May, following a 17.7 per cent plunge in April, amid a gradual easing of coronavirus-related restrictions during the month.

Finance Minister Mathias Cormann has warned a second wave of coronavirus could cost the Australian economy $80 billion over the next two years.