Australian unemployment rate falls in July
Australia's unemployment rate fell by 0.1 per cent to 5.2 per cent in July, new figures have confirmed.
An extra 14,000 people found work across the country during the month and this was higher than many economists had been expecting.
While this may be good news for the Aussie on the street, it could increase the hardships being faced by the nation's entrepreneurs.
The figures are likely to force the value of the Aussie dollar even higher and this will make it even more difficult for firms to compete.
Roy Morgan Research recently revealed that levels of corporate sentiment have started to grow again, but confidence is still somewhat fragile and the rising dollar may have an impact on the number of business loans being issued by Aussie banks.
JP Morgan Australia chief economist Stephen Walters said: "You'll get some softer employment gains in the next six months or so as you see industries affected by the Aussie dollar going up and global (economic) weakness."
Have a question about business banking? Ask the money gurus at Mozo Answers.