Australian Leading Employment Indicator Falls In July
Australia’s Department of Employment said Wednesday that its leading indicator of employment fell to a negative 0.060 in July from a revised positive 0.117 in June.
The indicator has now fallen for six consecutive months, confirming a slowing in the pace of employment growth below its long-term trend of 2.5% a year, the department said.
The indicator measures four weighted time-series variables: ANZ newspaper job ads, Dun & Bradstreet employment expectations, the Westpac-Melbourne Institute leading index of economic activity survey, and the Westpac-Melbourne Institute consumer sentiment survey.
The Australian Bureau of Statistics will issue June employment data Thursday. Economists expect a 7,500 increase in employment over the month, well below the 15,000 per month needed to keep the unemployment rate steady over time.
Employment contracted by 20,000 in May, spooking financial markets and prompting the Reserve Bank of Australia to warn about tentative signs of a slowdown in job creation.
Source: http://www.djnewswires.com/eu
The indicator has now fallen for six consecutive months, confirming a slowing in the pace of employment growth below its long-term trend of 2.5% a year, the department said.
The indicator measures four weighted time-series variables: ANZ newspaper job ads, Dun & Bradstreet employment expectations, the Westpac-Melbourne Institute leading index of economic activity survey, and the Westpac-Melbourne Institute consumer sentiment survey.
The Australian Bureau of Statistics will issue June employment data Thursday. Economists expect a 7,500 increase in employment over the month, well below the 15,000 per month needed to keep the unemployment rate steady over time.
Employment contracted by 20,000 in May, spooking financial markets and prompting the Reserve Bank of Australia to warn about tentative signs of a slowdown in job creation.
Source: http://www.djnewswires.com/eu
Labels: Australia, employment
<< Home