Australian unemplyment figures have been at absolute all time lows, even taking out the beginning of the end of the mining boom in the late 2000's. With the mining boom in western australia came the strong AUD rate which really hurt the east coast which attracts a lot of tourists. The strong AUD means mainly international tourists look to cheaper destinations. In 2022 we have seen a new boom in mining again in western australia. This new boom, along with all time low unemployment might be a good opportunity to purchase a bag of AUD and RioTinto stock and sit on it for a few years. This is not financial advise, so its not.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.