# NAB sees Australian joblessness reaching 5.5% by early 2028

- URL: https://talkfuse.com/story/grim-prediction-for-aussies-as-nab-forecasts-sharp-rise-in-unemployment-rate/
- Published: 2026-11-05T03:00:09+00:00
- Updated: 2026-11-05T03:17:37+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16267081/nab-australia-unemployment-rate-economic-growth-forecast.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Business, Economy, World

## Key points

- NAB forecasts unemployment could reach 5.5 per cent by early 2028.
- Australian growth is forecast to slow to 1 per cent in 2027.
- The bank links the outlook to higher interest rates and below-trend growth.

## Summary

National Australia Bank (NAB) forecasts that Australia’s unemployment rate could rise to 5.5 per cent by early 2028 as economic growth remains below trend. The bank says higher interest rates aimed at tackling inflation are weighing on the economy, with the effects expected to build over the next two years.

NAB forecasts real GDP growth will slow from an annualised rate of about 2.9 per cent in the second half of 2025 to 1.4 per cent in 2026 and 1 per cent in 2027, before improving somewhat in 2028. It attributes the slowdown to 125 basis points of Reserve Bank of Australia cash rate increases since February 2026; the unemployment estimate is a forecast, not a reported outcome.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.