‘Slower economic activity’ will increase unemployment rate

Australia’s GDP is up 0.6 per cent and Investsmart’s Evan Lucas says the “slower economic activity” will help bring inflation down but will see “increases in the unemployment rate”. “It’s at 40-year lows on both the unemployment, the underemployment, and underutilisation, which is a very positive thing,” Mr Lucas told Sky News Australia. “But there’s no doubt slowing down on the economic side will mean a slowing down on the employment drive we’ve had.”