Australia's unemployment rate fell to 4 per cent in May, presenting a 'goldilocks' scenario for Reserve Bank trying to avoid a recession. The unemployment rate declined slightly because employment rose by 40,000 people in May, and the number of officially unemployed people fell by 9,000. Analysts say the unemployment rate will likely keep rising in the months ahead, and the RBA will probably stay in its wait-and-see mode on whether to cut or raise interest rates.
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