Economy set to worsen, with higher unemployment and weaker growth on the way, Jim Chalmers reveals

Treasury is revising all the numbers for the mid-year budget update as economists warn of a difficult six months ahead Get our new political email , free app or daily news podcast Jim Chalmers has revealed December’s mid-year budget update will project weaker growth and higher unemployment, as economists warn of a difficult six months ahead for the Australian economy.

Two days after a senior Reserve Bank official foreshadowed the potential for another interest rate hike in under two weeks’ time, the treasurer in a…