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Goal Statistics: Australian Unemployment Rate

You should be very wary when discussing a "goal" for the rate of unemployment in Australia, as no published goal exists.  The current goal for the rate of unemployment in Australia is to maintain a rate as close as possible to the NAIRU. Many economists believe that this figure is close to 5.0%. It is not surprising, therefore, that as the unemployment rate fell below 5.0% the Australian economy began to experience higher inflation rates.  The impact of the global financial crisis is also evident here.  Up to date statistics can be found on the Reserve Bank of Australia's website.

Year Unemployment Rate (%)
2004/05 5.0%
2005/06 4.8%
2006/07 4.3%
2007/08 4.2%
2008/09 5.8%

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