In this weekly we examine through the lens of job advertisements, the net effect for the labour market – and by implication the broader economy – of the many conflicting cycles currently impacting the evolution of the Australian economy.

These many cycles include the lower $A, reducing mining investment, lower oil prices, a weaker terms of trade, stronger US growth but softer Chinese growth, the boom in residential construction – mainly apartments – and more constrained government spending. The net of these effects since early 2014 has been positive for job advertising, which we feel is the main reason that the unemployment rate has not continued to rise as the RBA had previously forecast.

For full analysis, download report:

•   Australian Markets Weekly: 12 October 2015 (Word, 282KB) 

For further FX, Interest rate and Commodities information visit nab.com.au/nabfinancialmarkets

Disclaimer