# Economy set to worsen, with higher unemployment and weaker growth, Chalmers says

https://mins.news/en/item/111011

- The Guardian, 2026-10-22 11:30 UTC
- Economy
- Original: https://www.theguardian.com/business/2026/oct/22/jim-chalmers-economy-speech-rising-unemployment-inflation

> Jim Chalmers says December’s mid-year budget update will forecast weaker growth and higher unemployment. Economists warn the next six to nine months will be difficult, as high inflation and elevated interest rates weigh on activity and the labour market softens.