A stark warning that inflation will continue to spark unemployment and wage growth problems for a long time to come.
Economists are predicting our unemployment rate to come in as low as 3.1 percent today.
But economists are also predicting wage growth to increase, which will put pressure on the Reserve Bank to drop interest rates.
Economist Tony Alexander told Mike Hosking we're going to be in a situation where inflation will take some time to come down.
He says we're not going to see interest rates fall at the same rate as 2008/2009, when unemployment went to 6.5 percent and stayed there for three years.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Two Guys, Five Rings: Matt, Bowen & The Olympics
Two Guys (Bowen Yang and Matt Rogers). Five Rings (you know, from the Olympics logo). One essential podcast for the 2026 Milan-Cortina Winter Olympics. Bowen Yang (SNL, Wicked) and Matt Rogers (Palm Royale, No Good Deed) of Las Culturistas are back for a second season of Two Guys, Five Rings, a collaboration with NBC Sports and iHeartRadio. In this 15-episode event, Bowen and Matt discuss the top storylines, obsess over Italian culture, and find out what really goes on in the Olympic Village.