Andrew Boak Goldman Sachs’ Chief Economist for Australia & New Zealand is out with a note positive on Australia’s economic recovery. He said he believed Australia in a good position for recovery extending into the end of this year and next. With the RBA focusing on wages he said he saw slow grinds expected for wage growth and inflation. Goldman noted that to see wage increases, full employment is a critical issue. The wages analysis is in line with Governor … Continue reading “Australia Placed Well for Recovery says Goldman Sachs”
US in October added 531k non-farm payrolls jobs more than forecasted 425k. September prev 1945K (revised to +312K). Unemployment rate fell to 4.7%. US Average Hourly Earnings (M/M) rose 0.4% Change in private payrolls +604K Change in manufacturing payrolls +60K
The Federal Reserve released it’s Biege Book Wednesday with the focus on growth in consumer spending. Most Districts reported significantly elevated prices, fueled by rising demand for goods and raw materials.
US in September added just 194k non-farm payrolls jobs less than forecasted 500k. August prev 235K (revised to +366K). Unemployment rate fell to 4.8%. US Average Hourly Earnings (M/M) rose 0.6% as wages pick not encouraging for the transitory argument
US in August added just 235K non-farm payrolls jobs less than forecasted 750k as consumer confidence us at 11 year lows. July prev 943k was revised to 1053k. Unemployment rate remained at 5.4%. US Average Hourly Earnings (M/M) rose to 0.6%.
US in July added 943K non-farm payrolls jobs more than forecasted 850k as private payrolls added jobs. 703K June prev 850k was revised to 938k. Unemployment rate fell to 5.4% from 5.7%. US Average Hourly Earnings (M/M) rose to 0.4%.
US in June added 850K non-farm payrolls jobs more than forecasted 720k, May prev 559k was revised to 583k. US June ADP employment +692K was higher than +600K expected. Unemployment rate rose to 5.9% from 5.8%. US Average Hourly Earnings (M/M) 0.3% unchanged.
The US in May added 559K non-farm payrolls jobs less than forecasted 674k new jobs, April prev 266k was rrevised to 278k. The unemployment rate fell to 5.8% from 6.1%. US Average Hourly Earnings (M/M) were higher by 0.5% (est 0.2%; prevR 0.7%; prev 0.7%)
Australia Wage Price Index for Q1 2021 came in at +0.6% q/q slightly ahead of the expected 0.5%. Yesterday the RBA minutes showed the bank saying wage growth would need to be “sustainably” above 3% to meet inflation target.
The US in April added only 266K non-farm payrolls jobs less than forecasted 1.005,000 new jobs, March prev 918k was rrevised to 708k. The unemployment rate rose to 6.1%. Misses were in private payrolls +218K vs +933K expected and manufacturing payrolls -18K vs +54K expected