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Missed this one yesterday. A big fall is inevitable from here:
ANZ Australian Job Ads decreased 1.1% m/m in July. Even if labour demand growth is starting to ease, we don’t think this will translate immediately into rising underutilisation. In fact, we now forecast unemployment to fall below 3% by early-2023. @cfbirch @arindam_chky #ausecon pic.twitter.com/uiQ3RevUYj
— ANZ_Research (@ANZ_Research) August 1, 2022
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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.