DEEWR’s Monthly Leading Indicator of Employment (Indicator) has fallen in September 2013 for the eighth consecutive month. The previous estimate of a slight rise in the Indicator in July has been revised to be a slight fall. This now confirms that employment is likely to continue to grow more slowly than its long-term trend rate of 1.4 per cent per annum over coming months. The Indicator is weighed down in September by falls in the cyclical values of all four of the components. Cyclical employment has fallen for five consecutive months.
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.
