Unemployment expectations jump to new high

David Llewellyn-Smith

Thursday, 13 June 2013

Westpac has released its May expectations pack and the news is good for inflation expectations:

And not so good for unemployment expectations, which hit a new high for the cycle:

Meaning, of course, that the RBA will need to cut again:

August at the latest.

Expectations Bulletin Pack (3)

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.