After last week’s shocking employment survey from the ABS, Callam Pickering, economist for jobs site Indeed, has warned that the worst is yet to come for the Australian labour market:
“The key to the labour market going forward is whether the economy can turn around, and what we’ve seen in the September quarter and early indications for the December quarter is that economic growth has remained pretty weak, so I think these weaker employment figures are here to stay, at least for the next three to six months,” he said.
“Other measures of labour market conditions, such as job vacancies and ads, point in that direction. They actually suggest that unemployment is set to drift a little higher, so we could see a 5.4 or even a 5.5 per cent”…
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