Citi has a pointed piece today on SEEK as it cuts it to sell. It might as well be talking about Australia:
Downside risk in ANZ Employment
Seek’s core business, ANZ Employment, has delivered particularly strong revenue growth over the past three years, benefiting in particular from strong growth in job ads despite a much flatter employment cycle. In fact, job ads have continued to grow even though the unemployment rate has flattened out in the past 18 months
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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.
