Latest / Best of Business / Murray Olds: Australian correspondent on Australia's unemployment rate holding steady at 4.2 percent

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Murray Olds: Australian correspondent on Australia's unemployment rate holding steady at 4.2 percent · Best of Business

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  Speaker 1: You're listening to a podcast from News talks'b Follow this
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  Speaker 1: and our wide range of podcasts now on iHeartRadio. International
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  Speaker 1: Correspondence with Ends and Eye Insurance, Peace of Mind for
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  Speaker 1: New Zealand Business Mariold.
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  Speaker 2: Does it correspondence for that's amas.
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  Speaker 3: Good happening, Heather.
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  Speaker 2: So your unemployments holding steadia.
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  Speaker 3: Four point two percent, that's right, fifty thousand jobs, just
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  Speaker 3: under fifty k jobs added in August. And the participation
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  Speaker 3: rate this is mentioned, the number of working age Australians
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  Speaker 3: either in jobs or looking for jobs, that's at a
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  Speaker 3: record high sixty seven percent. So that's a pretty rosy picture.
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  Speaker 3: But what it does is add to the consensus over
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  Speaker 3: here that the Reserve Bank is going to hold off
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  Speaker 3: cutting interest rates here for even longer. Despite that aggressive
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  Speaker 3: rate cut out of Washington, the US Central Bank taking
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  Speaker 3: half a percentage point off. Inflation is still too high
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  Speaker 3: in Australia. Sticky inflation they call it, hanging around for
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  Speaker 3: far too long. And this strong growth in jobs will
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  Speaker 3: not help get inflation down. So you know, a talk
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  Speaker 3: of a double disillution election, forget it, an early raidcut,
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  Speaker 3: I don't think so. A lot of moving parts and
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  Speaker 3: all of this over.
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  Speaker 2: Here can tell me about the massive drug bust in Sydney.
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  Speaker 3: Oh, this is like out of a Tom Cruise film
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  Speaker 3: you see on a plane. A massive drug ring apparently
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  Speaker 3: been doing the rounds here in mainly in Sydney, but
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  Speaker 3: we understand also drugs going into State. But police at
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  Speaker 3: State and federal lul's over here. So they've smashed an
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  Speaker 3: organization called the Commission. Now allegedly the people behind this
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  Speaker 3: Commission were responsible for supplying you're sitting down one point
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  Speaker 3: two tons of cocaine and Sydney alone in four months
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  Speaker 3: one point two tons of coke, so powerful. Police say
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  Speaker 3: the Commission could basically set the price it wanted by
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  Speaker 3: controlling how much it released out of the market. Your
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  Speaker 3: drugs hidden in vehicles and are taken all over the place.
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  Speaker 3: Allegedly they found twenty million bucks with a coke at
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  Speaker 3: the home of a Sydney guy back in April and
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  Speaker 3: that led them to the investigators unraveling this much bigger
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  Speaker 3: drug ring. They're calling the Commission. On Wednesday morning, at
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  Speaker 3: six o'clock in the morning, coordinated raids across twenty properties
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  Speaker 3: in Sydney, drugs valued at fifty five million bucks found,
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  Speaker 3: they've got weapons, they've got eight hundred thousand bucks in cash,
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  Speaker 3: bulletproof vests. Like I say, it's a movie script, but
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  Speaker 3: it's real. It's on the streets of Sydney.
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  Speaker 2: Mass I mean, that seems like a huge amount of
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  Speaker 2: coke to take out. If these guys, If these guys
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  Speaker 2: are peddling that much coke, that's got to basically dry
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  Speaker 2: up the market, mustn't it.
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  Speaker 3: Well, it would certainly a strangle opposition. And the background
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  Speaker 3: to this this commission apparently the commission rose up out
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  Speaker 3: of the ashes of an earlier drug gang that was
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  Speaker 3: broken up three two or three years ago. So there's
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  Speaker 3: a demand for cocaine here and it's pretty clear it's
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  Speaker 3: getting into the country and being supple by some pretty
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  Speaker 3: ruthless people.
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  Speaker 2: Do you see the guns that you see the pink
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  Speaker 2: gun in the Sydney Morning Erald. Yeah, I mean, so
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  Speaker 2: these are so I don't know what you call that,
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  Speaker 2: but you know the thing at the top of a
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  Speaker 2: handgun where you sort of slide it backwards and it
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  Speaker 2: cocks the bullet again.
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  Speaker 3: Yeah, what's that called.
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  Speaker 2: I don't know, mauz, but that's pink. So these guys
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  Speaker 2: have got a bit of flair, haven't they.
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  Speaker 3: They've got a bit of more front than George Street mate. Jeez.
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  Speaker 2: So yeah, okay, what are Youurrickons going to happen? Are
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  Speaker 2: we going to beat the Wallabies or what?
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  Speaker 3: Well, look, it's I'm an all Black fan. I bleed black,
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  Speaker 3: of course, and you'd think after two narrow losses to
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  Speaker 3: the best team in the world right now, the spring
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  Speaker 3: Box and the Wallaby is getting that absolute flogging from
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  Speaker 3: the argis, you'd have to think New Zealand's going to
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  Speaker 3: start red hot favorites and sitting on Saturday night. But
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  Speaker 3: you know there's beware the wounded Wallaby. I mean, really,
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  Speaker 3: a James Slipper going to become the most capped Australian
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  Speaker 3: rugby union player ever if he comes off the bench
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  Speaker 3: one hundred and forty Test matches. He's currently equal with
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  Speaker 3: George Gregan and that we love to hate George Green.
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  Speaker 3: There's a brand new halfback combination Nick White and Noah
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  Speaker 3: La Lacio coming back into the Joe Schmidt team. But
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  Speaker 3: sixty seven points to twenty seven, when the Wallaby's lead
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  Speaker 3: I think was at twenty points to three and they
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  Speaker 3: got flogged in the second half so look, some new faces,
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  Speaker 3: some firepower coming back from injury. And here's the thing.
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  Speaker 3: At some point, Heather, the Wallabies are going to end
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  Speaker 3: this Bleeders Low Cup horror run of twenty two years.
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  Speaker 3: I love rubbing it into my Aussie mates. I just
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  Speaker 3: adore it. But it's going to come to an end
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  Speaker 3: at some point. Who knows is it this year? Look?
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  Speaker 3: I don't think so, but stranger things have happened.
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  Speaker 2: I'll tell you what. Even if it does come to
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  Speaker 2: an end, it's only coming to an end because you've
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  Speaker 2: got a Kiwi coach, right, So you can keep rubbing
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  Speaker 2: that on end mask For.
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