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Chalmers Warns December Budget: Higher Unemployment, Slower Growth

By Drooid · Oct 23, 2026, 10:55 AM UTC · How we work

Summary

Story summary

Australian Treasurer Jim Chalmers said the December mid-year budget will show slower growth and higher unemployment.
He warned higher inflation and tighter policy are softening the labour market.
Unemployment rose to 4.7% in September, the highest in five years.
Fuel rose 60 cents per litre after oil climbed to US$113, adding $144 monthly for families.
ANZ expects capital-city home prices to drop 13.5% before a 2028 rebound.

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Story summary

Australian Treasurer Jim Chalmers said the December mid-year budget will show slower growth and higher unemployment.
He warned higher inflation and tighter policy are softening the labour market.
Unemployment rose to 4.7% in September, the highest in five years.
Fuel rose 60 cents per litre after oil climbed to US$113, adding $144 monthly for families.
ANZ expects capital-city home prices to drop 13.5% before a 2028 rebound.