It also shows the RBA cares more about inflation than jobs.
"Unsurprisingly the Reserve Bank has chosen to keep rates steady at 3.6% This reflects that yet again the RBA care more about inflation than maintaining full employment," said Greg Jericho, Chief Economist at The Australia Institute.
"In the past month unemployment continued its steady rise to 4.5%, while the inflation had a surprisingly sharp increase due mostly to the end of state-based energy rebates.
"In response the RBA has shown it is less worried about ongoing rising unemployment than reacting to a surprising blip in inflation.
"The most recent household spending figures released yesterday showed households are slowing their spending and shifting towards spending on necessities.
"In order to keep unemployment from rising further that RBA must care as much about the full employment part of its dual mandate as it does inflation."
