Some charts from Damien Boey at Credit Suisse offering a lead on the labour market after yesterday’s weakening read:
I can see this coming as:
- dwelling construction crashes;
- infrastructure starts to plateau;
- the NDIS roll out halves;
- and consumption remains weak.
If we get anywhere zero employment growth then the unemployment rate will spike straight above 6%, trashing wage growth and bringing RBA QE into play.
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.
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