Our view for the global economy is unchanged – we expect global economic growth to slow to 2.9% in 2024
Insight
February 22, 2016
Australian Markets Weekly: SEEK job ads suggest still solid labour demand
Another volatile week in markets with equity markets up and the bond market also rallying on expectations of the US Fed delaying further rate hikes.
RBA holding faith in the labour market; SEEK job ads suggest still solid labour demand
- Volatility in global markets continue with markets gyrating on expectations of further Fed rate increases – now largely discounted by the market, the outlook for the oil price and prospects for any cut back in supply – also doubted, and the extent of slowing in the global economy given soft trade data in a number of Asian countries.
- Our feature article this week is on SEEK job ads that continues to suggest solid labour demand. The number of applications per advertised job also suggests the trend improvement in the labour market continued in January despite the tick-up in the official unemployment rate.
- The domestic data flow picks up ahead of December quarter GDP on 2 March. Key partials this week include Wednesday’s Construction Work Done and Thursday’s Capex.
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