Seasonally adjusted hours worked fell by 8.8 per cent between December 2021 and January 2022, according to the Australian Bureau of Statistics (ABS).
The changes in hours worked were more pronounced than for other key indicators, with employment increasing by around 13,000 people, unemployment by 6,000 people and the unemployment rate remaining at 4.2 per cent.
But there are deeper reasons why the numbers are the way they are, and today we explore this…. in a word – migration, or the lack of it…!
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The latest CPI for Australia to December was much stronger than expected and puts more pressure on the RBA to react sooner. But as we examine the data we also update our shadow estimate of the TRUE rate of inflation which is much higher, and helps to explain the high levels of financial stress in the system.
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Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
The total number of dwellings approved rose 3.6 per cent in seasonally adjusted terms in November, following a 13.6 per cent fall in October.
This uptick in construction may not continue, stating that while working from home may support approvals in the short-term, and that omicron could induce higher savings rates, there are bigger risks to building approvals – specifically higher interest rates.
We also know that because HomeBuilder brought forward a lot of housing projects; there are a lot of people who maybe usually would have started to build a home this year or next year that did it last year instead when they could have got HomeBuilder. So all of those factors together do create a risk of building approvals falling further in the longer term.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
The ABS has annually re-weighted the Consumer Price Index (CPI) and Selected Living Cost Indexes (SLCIs) since 2018, predominantly using Household Final Consumption Expenditure (HFCE) data. Annually re-weighting the CPI ensures that the CPI basket continues to be representative of spending by Australian households.
Last week they published the proposed changes to the index, The 2021 re-weight will apply from the December 2021 quarter. The CPI will be released on 25 January 2022 and the SLCIs will be released on 2 February 2022.
No surprise then that CPI is on average understated. The question is by how much. It is a complex task to try to recompute the true CPI, and it depends on both methodology and baseline assumptions. However my quick back of the envelope estimate is the true CPI in Australia is running closer to 7%. Which means the RBA have taken interest rates way to low, an inflated housing to the max. This is another pure case of Numberwanging…
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
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Late last week the ABS released their latest lending indicators to end October 2021. There was much rubbish posted about these numbers, with various claims of booming investor loans, but these stats suggest to me a potential easing of new loan momentum, which is an indicator of easing home prices too – because as you know if you watch the channel, the rate of change of credit is one of the best proxies for price changes.
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
The Consumer Price Index (CPI) rose 0.8% this quarter. Over the twelve months to the September 2021 quarter, the CPI rose 3.0%. The most significant price rise were for New dwelling purchase by owner-occupiers (+3.3%) and Automotive fuel (+7.1%).
We examine the latest ABS employment data for September 2021. The story is not straight forward, as many people have simply fallen out of the system and are not on the unemployment radar. The true number is closer to 8%.