The latest jobless figures were a major talking point last week, this article from the FT puts them in context of a wider range of data points

James Marlay

Livewire Markets

The latest jobless figures were a major talking point last week, this article from the FT puts them in context of a wider range of data points. During the peak of the GFC unemployment never ticked above 6%,despite avoiding recession Australian unemployment has been on an upward trend since 2010. One explanation for this that the overall domestic economy has been slowing down, particularly if you look at GDP growth excluding resource exports. The weak economy and deteriorating labour market have led to a slowdown in wage growth even as consumer price inflation has been accelerating. At a consumer level there is mixed data at a business level the RBA says there has been no increase in nominal business investment outside of the mining industry in more than five years. This article is a great read following on from the jobs data last week. (VIEW LINK)


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James Marlay
Co Founder
Livewire Markets

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