Queensland sounds like it's gone full Mad Max #QandA

Lingering stickiness a bit uncomfortable for the RBA

ANZ-Indeed Australian Job Ads rose 0.3% m/m in October and the series is up 2.6% over the last two months. This suggests the downward trend in Job Ads may be stabilising. @MadelineDunk @cfbirch Callam Pickering #ausecon

The latest forecasts from the RBA Statement on Monetary Policy. Headline inflation expected to be lower by Dec-24 and Jun-24 than in previous SMP. Not much movement on the trimmed mean measure though. Unemployment rate revised upwards slightly.

Australian labour productivity growth has consistently fallen short of RBA expectations. It's one of the reasons I've been less optimistic about rate cuts than other economists.

Sensible thread.

Yet more evidence that the American Revolution was a mistake. This would never happen under the Westminster system.

Not sure there are any real people left on here, but if you're not a bot feel free to follow me over at the good place. bsky.app/profile/callam…

For most people, life wouldn't be any different. Cost-of-living pressures and mortgage rates would be practically identical under both parties. Both would have splashed cash in response to those issues.

ANZ-Indeed Australian Job Ads fell 1.3% m/m in Nov, but is up 1.7% on its Aug low. The sharp fall in retail ads in Nov suggests some of the lift in Sep and Oct Job Ads may reflect early end-of-year-related hiring. @MadelineDunk @cfbirch Callam Pickering #ausecon

The Australian economy expanded by 0.3% in the September quarter - falling short of market expectations - to be 0.8% larger than a year ago. Ignoring the pandemic, annual economic growth is at its lowest level since the early 1990s recession #ausbiz #auspol

Australian economic growth was entirely driven by government spending in the September quarter. Very small subtraction from consumption and a much bigger subtraction from inventories #ausbiz #auspol

Well this is gross ... Australian GDP per capita fell for the 7th consecutive quarter and is now down 2.1% from its peak #ausbiz #auspol

Australian labour productivity fell a further 0.4% in the September quarter. It's down 5.7% from its peak. Remarkably labour productivity basically hasn't changed in nine years and this really should be the key economic talking point leading into the next election #auspol

Over the past year, government-aligned industries (healthcare & social assistance, education and public admin & safety) account for more than 80% of jobs growth. It highlights the growing divide between big spending government and a struggling private sector #ausbiz #auspol

ANZ-Indeed Australian Job Ads steadied in late 2024, rising 0.5% q/q in Q4, the first quarterly rise since Q3 2022. This follows a cumulative decline of 13.8% over the first three quarters of the year (quarterly average). @MadelineDunk @cfbirch Callam Pickering #ausecon

Indeed senior economist Callam Pickering said, "Hiring activity typically grinds to a halt during December, but there were some sectors, such as childcare, construction and some healthcare professions, where hiring ramped up towards the end of the year." #ausecon #auspol