DEEWR job ads leading indicator heads south

Thursday, 21 June 2012

Yesterday I posted on the rise in June of the DEEWR job ads figures but I forgot to add the leading indicator measure which fell for the sixth straight month. Mark the Graph has a neat chart:

It is interesting to note that the indicator has been a very reliable leading indicator of employment downturns, until the current cycle in which it has lagged job growth weakness.

What this says exactly I don’t know. Perhaps another indicator going haywire under structural adjustment pressures?

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.