Australia government intervention

Unemployment rate

Employment grew by 1.0 percent in 2001, while the unemployment rate increased steadily over most of the year to peak at 7.0 per cent in October 2001, before declining slightly to 6.7 percent in December 2001.

Inflation rate

The Australian Consumer Price Index (CPI) increased by 3.1 percent through the year to the December quarter 2001. Various one-off factors added to inflation over that period. The price of meat, seafood, fruit and vegetables increased substantially through the year. In addition, some price effects have resulted from the events of September 11, the collapse of a major Australian insurance firm (HIH) and the second largest Australian air...