Australian unemployment rate vs inflation
The local Phillips curve. Tight labour markets through 2022 to 2023 coincided with peak inflation.
Series in this chart
- Unemployment
/v1/data/abs/labour-force - CPI YoY
/v1/data/abs/cpi
Code that produces this
cURL
curl https://api.ausdata.io/v1/phillips-curve \
-H "Authorization: Bearer YOUR_KEY"Methodology
Monthly unemployment trend, quarterly CPI YoY. Joined by quarter.
Takeaways
- The 50-year unemployment low coincided with the inflation peak.
- Relationship looks weaker post-2015 than pre-2000.