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Hmmm......Not sure about the 9% unemployment rate....seems very high to me. If that is the case, it would be catastrophic for Australia. Particularly Western Australia and Queenland which have a high reliance on mining industries. I will be awaiting for the Oct. - Dec. Qtr figures in...

Better fix quick for a couple of years....8% is not going to be around much longer. I will probably be around 4% by this time next year as credit eases. Cheer Sash

Not good....it is a clear sign....it is usually the non essential spending that takes a plastering!:(:(

Urchin, The property industry (includes buidling new homes) contributes to 35% of the GDP of Australia. And this also translates to follow-on to other part of ththe economy like Harvey Norman spend. That is why the government is targeting this area. Successive governments have used this...

Agreed.....8-9% would be good and sustainable. But given what I am hearing....it maybe substantially lower than this figure. If it gets to say 5-6% or lower.....that is going to have quite a bearing on Australia. I was watching a program where the Latin America thought they would be okay...

Looking at the share market and SKY news.....it looks like China is coming off its growth also. India's growth has also been revised to 5% from 7%. China's was revised from 11% to 9%....but believe it will be a lot lower! I am now more bearish for the prospects for Australia....particulary...