Recession indicators in the Australian economy

Shaded areas show when the Sahm indicator alerts a recession risk

The Sahm indicator is the difference between the unemployment rate 3-month moving average and minimum moving average in the prior 12 months. A Sahm value of 0.5 percentage points or higher (shaded in blue) triggers a recession alert.
Source: Author's calculations using ABS Labour Force Australia; ABS National Accounts: National Income, Expenditure and Product. Get the dataCreated with Datawrapper