The labor market is tight but not collapsing; the Reserve Bank of Australia's policy game has just begun.

CryptoWorld News: Despite Australia’s unemployment rate rising sharply to 5.8% in April, the job market remains relatively tight. Ernst & Young Chief Economist Cherrell Murphy said that the 5.8% underemployment rate is far below pre-pandemic levels, labor demand remains high, and companies continue to report difficulty finding suitable workers. Murphy added that the Reserve Bank of Australia has recently warned that rising gasoline prices could lead to a rapid increase in prices, which may require further tightening of monetary policy.