New labour data hits as unemployment rises to 4.5 per cent
ABS Labour Force data shows unemployment has risen to 4.5 per cent, with flow-on effects expected for the building and construction sector.
Unemployment has risen to 4.5 per cent according to the latest ABS Labour Force data.
What does rising unemployment to 4.5% mean for building and construction businesses?
Builders and trades businesses may see shifts in worker availability and wage pressures as unemployment rises. Could affect hiring costs and project labour supply.
Key takeaways
- ABS Labour Force data shows unemployment has climbed to 4.5 per cent nationally.
- The building and construction industry is flagged as likely to feel the impact.
- Rising unemployment may affect labour availability and wage dynamics for trade businesses.
- Trades employers should monitor hiring conditions as the labour market shifts.
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