The Tyler Group Wealth Management Merrill Lynch Personal Investment Advisory: Australia's unemployment rate

Growth too low to reduce Australia's unemployment rate, IMF says

'Economy likely to grow below trend as the investment phase of the mining boom passes its peak,' report says

The International Monetary Fund (IMF) expects Australia’s economy to struggle to grow fast enough to relieve pressure on the unemployment rate, which is close to a decade high of just fewer than 6%.

Since October last year, the Washington-based institution has downgraded its Australian growth forecast to 2.6% in 2014 and 2.7% in 2015. It had previously expected growth of 2.8% and 2.9%, respectively.