Markets fade crumbling ABS jobs credibility

Friday, 22 March 2024

As they should. There is a fundamental data collection problem for the ABS when armies of Indian workers arrive and jump into Uber driving while applying for a million other jobs.

The RBA futures curve lifted but did not change the outcome of a September cut and three in 18 months:

Bond markets sold modestly initially but have been bid ever since:

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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.