Payroll jobs contracted over the first half of July to be down 0.8 percent for the month ended 16 July 2022.
The ABS’ new household spending figures reinforce the retail turnover data released last week, with spending up 10.2 percent on a year earlier in June
In raising the cash rate by another 0.5 percent today, Dr Lowe is reiterating the RBA’s goal in chasing down inflation
There was a sharp slowdown in momentum in retail spending in June, with turnover rising by just 0.2 percent m/m (after a 0.7 percent increase in May).
While this is the highest level of inflation experienced in Australia for decades the June quarter CPI actually came in slightly lower than market expectations.
Data released from the ABS today shows Australia’s unemployment rate has dropped to a staggeringly low 3.5 percent in June
The RBA has increased the cash rate by another 50 basis points today to bring it up to 1.35 percent
Global supply shocks and strong domestic demand are creating significant cost pressures that are increasingly being passed to consumers.
Our analysis shows Australia’s domestic labour market efficiency is falling.
This year, ASIC called out geopolitical risks as a key area of uncertainty that directors and management should assess in the future performance of a company,
Dr Brendan Rynne, KPMG Chief Economist, responds to the ABS labour force data
Dr Brendan Rynne, KPMG Chief Economist, responds to today’s 0.5 percent interest rate rise
Dr Brendan Rynne, KPMG Chief Economist, comments on ABS data on international trade
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