Australia Booming Ahead

The Australian Government released unemployment figures showing the rate of unemployment falling ot 4.9%. This figure is lower than previously expected and is now now influencing the value of the exchange rate in Australia. The article makes reference to the possible implications on the interest rate in the economy over the coming months to counteract.

Task: The article in the Australian Times could be used as a revision lesson for AS or Year 1 IB Economists to review the links between different macroeconomic variables.

Australia - Annual growth of real GDP

Data from Timetric.

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Australia Real GDP Change from Previous Year from Timetric

Australia - Unemployment rate

Data from Timetric.

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OECD Economic Outlook Database (version 88) from Timetric