Economic Snapshot - June 2022

Key Economic Indicators

The rolling annual change of 10 key economic indicators feature in the Economic Snapshot for June 2022.

Please note that some indicators are not measured monthly, hence there may be some delays in the data that is readily available.


Cash Rate

Cash Rate & Inflation

June 2021

0.10%

June 2022

0.85%

The cash rate has increased from 0.10% in June 2021, to 0.85% in June 2022.


GDP Growth

June 2021

9.6%

March 2022

3.3%

GDP growth has decreased from 9.6% in June 2021, to 3.3% in March 2022.


Unemployment

Unemployment Rate

June 2021

4.9%

May 2022

3.9%

Unemployment has decreased from 4.9% in June 2021, to 3.9% in May 2022.


Inflation

Cash Rate & Inflation

June 2021

3.8%

March 2022

5.1%

Inflation has increased from 3.8% in June 2021, to 5.1% in March 2022.


Wage Growth

Wage Growth

June 2021

1.7%

March 2022

2.4%

Wage growth has increased from 1.7% in June 2021, to 2.4% in March 2022.


Average Weekly Earnings (Full-Time Adult Ordinary Time)

Average Weekly Earnings

November 2020

$1 712.44

November 2021

$1 748.40

Average weekly earnings (full-time adult ordinary time) have increased from $1 712.44 in November 2020, to $1 748.40 in November 2021.


Australian Dollar

Australian Dollar

June 2021

$0.76 USD

June 2022

$0.70 USD

The Australian Dollar has weakened relative to the US Dollar from $0.76 USD in June 2021, to $0.70 USD in June 2022.


Population

Population

June 2021

25.7 million

June 2022

25.9 million

Australia's population increased from 25.7 million people in June 2021, to 25.9 million in June 2022.


Household Wealth as a Share of Income

Household Wealth as a Share of Income

June 2021

878%

December 2021

952%

Household wealth as a share of income has increased from 878% in June 2021, to 952% in December 2021.


Household Debt as a Share of Income

Household Debt as a Share of Income

June 2021

182%

December 2021

186%

Household debt as a share of income has increased from 182% in June 2021, to 186% in December 2021.


Economic Data Sources

Cash Rate and Australian Dollar - https://www.rba.gov.au/

GDP Growth, Unemployment and Inflation - https://www.abs.gov.au/statistics/economy/key-indicators

Wage Growth - https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/wage-price-index-australia/mar-2022

Average Weekly Earnings - https://www.abs.gov.au/statistics/labour/earnings-and-working-conditions/average-weekly-earnings-australia/nov-2021

Population - https://www.abs.gov.au/AUSSTATS/abs%40.nsf/Web%2BPages/Population%2BClock?opendocument=&ref=HPKI

Household Wealth as a Share of Income and Household Debt as a Share of Income - https://www.rba.gov.au/snapshots/economy-composition-snapshot/


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