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Excessive costs within the outlets and aggressive rate of interest hikes have pushed shopper confidence to its lowest month-to-month degree in additional than three many years.
The weekly measure of shopper confidence from ANZ and Roy Morgan has been caught at low ranges, and in Could returned its worst calendar month common since December 1990.
The weekly index dropped 1.1 factors to 76.2, led by a 4.3-point decline in “present monetary circumstances”.
Whereas the weekly studying was nonetheless not as little as when the pandemic lockdowns took maintain in early 2020, it was nonetheless the fifth worst end result since that interval and the thirteenth week in a row beneath 80 factors.
ANZ senior economist Adelaide Timbrell mentioned cost-of-living pressures continued to weigh on households.
“These paying off their houses nonetheless have far decrease common confidence than renters and outright house owners, regardless of housing costs lifting since mid-February,” she mentioned.
Regardless of the pessimism, most staff who need jobs are employed and getting the hours they need.
Extra girls than ever are working full-time, in keeping with new evaluation of official labour market knowledge.
The analysis discovered girls’s complete employment was up 193,400 since Could 2022, with most taking over full-time relatively than part-time gigs.
About 4300 girls have taken part-time jobs since Could 2022, whereas 189,100 have entered full-time employment.
The federal authorities evaluation of Australian Bureau of Statistics knowledge discovered this was a constant development throughout each genders, with full-time positions making up 85 per cent of complete jobs development.
Nonetheless, girls have been chargeable for many of the enhance in full-time employment.
Employment Minister Tony Burke mentioned the federal government was supporting girls within the workforce in a number of methods, together with backing and funding a serious pay rise for the extremely feminised aged-care sector.
“We wish each Australian lady to have the ability to work and earn to their full potential,” Mr Burke mentioned.
– AAP