Unemployment dives below pre-pandemic levels as jobs surge resumes

The official unemployment has dropped below pre-pandemic levels with 115,000 new jobs created in May. 

The Bureau of Statistics says the jobless rate fell to 5.1 percent, significantly below forecasts for 5.5 percent. 

ABC's Peter Ryan says the figures are unambiguously good with hours worked higher and the underemployment rate falling to 7.4 per cent, its lowest level since January 2014. 

Federal Reserve signals rate hikes in 2023 as US economic recovery fuels inflation

As the US economy continues to recover from the pandemic-induced crisis, America's central bank has signalled that interest rates might rise much sooner than expected. 

The US Federal Reserve has laid the groundwork to start withdrawing massive economic stimulus rolled out during the pandemic but still says rates won't begin to rise until 2023. 

HSBC Australia chief economist Paul Bloxham says the Fed's signals are good news but doubt they will sway the commitment by the Reserve Bank to keep rates near zero until 2024.

Here's my analysis from ABC NewsRadio

Australia's Reserve Bank relaxed as economists worry "rebirth of inflation" will spark early rate rises

As the global economic recovery takes hold, big investors are becoming increasingly nervous that signs of rising inflation might see interest rates rise soon than expected. 

While inflation remains subdued in Australia, economists will be watching comments from the US Federal Reserve that might signal any rebirth of inflation. 

ABC's senior business correspondent Peter Ryan analyses the minutes from the Reserve Bank's June meeting.

Rate rise fears rattle investors as US inflation spikes . Could changed Fed language sway RBA's commitment to hold rates until 2024?

Signs of rising inflation around the world continue to rattle major investors who worry the days of near zero interest rates and cheap money might soon be over. 

Economists will be scrutinising comments this week from the US Federal Reserve which maintains rising inflation is in May was "transitory". 

ABC's Peter Ryan says any changed language from America's central bank could sway the Australia's Reserve Bank commitment to keep rates on hold until 2024. 

Inflation risks stoke rate rise fears but investors told to hold nerve. I speak with Lori Heinel, State Street chief global investment officer

Signs of rising inflation around the world continue to rattle major investors who worry the days of near zero interest rates and cheap money might soon be over.

But just "how soon" is the big question as professional money managers scrutinise almost every word from central banks and bet on when massive stimulus introduced during the pandemic will be removed.

I speak with Lori Heinel, chief global investment officer at State Street Global Advisors.