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The marginal indicators continue to suggest a material impact from the Budget and terms of trade falls on the economy in May. Today’s Department of Employment and Education (DEEWR) job vacancies series shows a sharp 3.6% fall from April with the trend beginning to roll as well:
Disconcertingly, the falls were across all eight occupational groups and all states:
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Skilled was marginally better:
That’s one pretty sucky report.
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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.