EMPLOYMENT

INSIGHTS, TRENDS AND CASE STUDIES

Ivan Colhoun, NAB’s Chief Economist, Markets, talks through the findings in the latest NAB Business Survey.

Anxieties around future spending and savings plans, household finances, the economy, financial concerns and how these are impacting spending behaviours and levels of financial hardship.

The business conditions index decreased 2pts to +13 in 2018 Q3, but remains well above its long-run average. Business confidence also fell, declining 4pts to +3 index points, a little below its historical average.

Business conditions seem to have stabilised at high levels in recent months following some sharp falls earlier and the dip in confidence last month appears to have been temporary.

SEEK data for August showed that Job Ads fell again and the RLB Crane Index reported that residential high-rise surprisingly increased.

The bigger picture – a global and Australian economic perspective.

The Weekly digs deeper into the revival in resources sector activity in WA

Our expectation for the Australian economy is that GDP will increase by just under 3.0% in 2018 and 2019.

Last week’s data revealed the slightest improvement in annual wages growth and a welcome further decline in the unemployment rate to a six-year low.

Global growth appears to have remained above average through the first half of 2018, but with our leading indicator pointing to a moderation in coming quarters, we think that this will represent the peak for this cycle.

The Weekly looks in detail at some of the trends in SEEK job ads and what they tell us about the trends in the various state economies.

The Yuan has served to undermine all of the gains in the AUD generated by yesterday’s good employment report.

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