Economic Snapshot - September 2022

Key Economic Indicators

The rolling annual change of 10 key economic indicators feature in the Economic Snapshot for September 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

September 2021

0.10%

September 2022

2.35%

The cash rate has increased from 0.10% in September 2021, to 2.35% in September 2022.


GDP Growth

September 2021

4.1%

June 2022

3.6%

GDP growth has decreased from 4.1% in the year ended September 2021, to 3.6% in the year ended June 2022.


Unemployment

August 2021

4.5%

August 2022

3.5%

The unemployment rate has decreased from 4.5% in August 2021, to 3.5% in August 2022.


Inflation

September 2021

3.0%

June 2022

6.1%

Inflation has increased from 3.0% in the year ended September 2021, to 6.1% in the year ended June 2022.


Wage Growth

September 2021

2.2%

June 2022

2.6%

Wage growth has increased from 2.2% in the year ended September 2021, to 2.6% in the year ended June 2022.


Average Weekly Earnings (Full-Time Adult Ordinary Time)

May 2021

$1 736.80

May 2022

$1 769.80

Average weekly earnings (full-time adult ordinary time) have increased from $1 736.80 in May 2021, to $1 769.80 in May 2022.


Australian Dollar

September 2021

0.73 USD

September 2022

0.68 USD

The Australian Dollar has weakened relative to the US Dollar from 0.73 USD in September 2021, to 0.68 USD in September 2022.


Population

September 2021

25.7 million

September 2022

26.0 million

Australia's population increased from 25.7 million people in September 2021, to 26.0 million in September 2022.


Household Wealth as a Share of Income

September 2021

922%

March 2022

955%

Household wealth as a share of income has increased from 922% in September 2021, to 955% in March 2022.


Household Debt as a Share of Income

September 2021

184%

March 2022

187%

Household debt as a share of income has increased from 184% in September 2021, to 187% in March 2022.


Economic Data Sources

Cash Rate

https://www.rba.gov.au/

GDP Growth, Unemployment and Inflation

https://www.abs.gov.au/statistics/economy/key-indicators

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/

Wage Growth

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

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/

Average Weekly Earnings

https://www.abs.gov.au/statistics/labour/earnings-and-working-conditions/average-weekly-earnings-australia

Australian Dollar

https://www.rba.gov.au/

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/

Population

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/

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

Household Wealth as a Share of Income & Household Debt as a Share of Income

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/


You can find previously completed Economic Snapshots here.


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