Labor leader Anthony Albanese has conceded he doesn’t know the unemployment rate or the Reserve Bank’s official interest rate as he seeks to talk up the opposition’s superior credentials when it comes to easing cost-of-living pressures.
During a press conference in Launceston, Albanese was repeatedly asked to cite the two measures that affect everyday cost of living.
“The national unemployment rate at the moment is… I think it’s 5.4. Sorry, I’m not sure what it is,” Albanese said.
He then walked off camera, leaving Labor’s finance spokeswoman Katy Gallagher to correctly answer the question.
Unemployment is at 4 per cent, and the RBA cash rate is at a historic low of 0.1 per cent – and has not changed since November 2020. It is widely predicted the Reserve Bank will start lifting interest rates in June, adding to financial pressures on homeowners.