Claims extracted
20
sentences that state something as happening or true
Uncertain
5%
1 of 20 hedged
("reportedly", "may", "according to")
Leaning
not political
takes no side on a contested political question
Publisher signals
61/100
The Sydney Morning Herald's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
1
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
The unemployment rate has climbed to its highest mark in nearly five years, but lingering inflationary pressures mean weaker labour market conditions are unlikely to stop the Reserve Bank lifting interest rates next week.
asserted
Bank → climb → rates
Unemployment hit 4.6 per cent in August, the worst result since November 2021, when the economy was recovering from the economic disruptions caused by COVID pandemic lockdowns.
asserted
economy → hit → lockdowns
In an unusual twist, nearly 40,000 jobs were added in the month, but an increase in the number of people looking for work meant the jobless rate also rose.
asserted
rate → add → work
All four major banks expect the Reserve Bank’s Monetary Policy Board to hike its benchmark cash rate for the fourth time this year next Tuesday, and none of them changed their forecast following the uptick in unemployment.
asserted
none → expect → unemployment
Commonwealth Bank economist Ashwin Clarke said the unemployment rate is now tracking slightly higher than both the Reserve Bank and CBA expected.
asserted
Bank → say → ?
“But this is unlikely to materially change the discussion at the Monetary Policy Board meeting next week,” he said.
asserted
he → change → meeting
The RBA governor, Michele Bullock, has warned repeatedly that inflation is “too high” and has voiced concerns that elevated fuel prices caused by the conflict in the Middle East will add further to price pressures across the economy.
asserted
prices → warn → economy
Bullock said earlier this week an unemployment rate as high as 5 per cent may be needed to bring inflation back into the bank’s target.
uncertain
rate → say → target
On Thursday, bond futures traded on financial markets had priced in an 86 per cent chance that the RBA would lift interest rates by 0.25 of a percentage point next week.
asserted
RBA → trade → point
The RBA’s benchmark cash rate, which effectively determines movements in home mortgage rates, has increased three times this year, and is now 4.35 per cent.
asserted
which → determine → rates
Another hike in official rates would lift the cash rate to its highest mark in 15 years.
asserted
hike → lift → years
Nationally, part-time employment jumped by 46,000 in August, while full-time employment fell by 6000.
asserted
employment → jump → 6000
The underemployment rate – the proportion of employed people who want and are available to work more hours – fell by 0.1 percentage point to 6.2 per cent.
asserted
who → employ → cent
Victoria had the highest unemployment among the states last month at 5.2 per cent, while NSW had the lowest rate of 4.3 per cent.
asserted
NSW → have → cent
Separate figures released by the Bureau of Statistics showed household wealth in Australia grew by 1 per cent, or $201 billion, during the June quarter, lifting the total to $19.4 trillion.
asserted
wealth → release → trillion
Superannuation assets grew by 5.2 per cent, but that was offset by a 0.2 per cent fall in the value of land and dwellings.
asserted
that → grow → land
The decline in property values reflected recent falls in house prices in NSW, Victoria and the ACT.
asserted
decline → reflect → NSW
It was the first time since September 2022 that land and dwelling values have registered a quarterly decline, but they are still 8 per cent higher compared to the same period last year.
asserted
they → register → period
ABS head of finance statistics Dr Mish Tan said the boost in superannuation values was “driven by growth in global and domestic equity markets”.
asserted
boost → say → markets
Subscribers can sign up to our weekly Inside Politics newsletter.
asserted
Subscribers → sign → newsletter
The Aporia
