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    Employment

    This Month

    President Joe Biden was quick to claim credit for the decline in prices compared to wages but said, “prices are still too high”.

    US inflation falls in June, bolstering rate cut bets

    Consumers prices eased by 0.1 per cent last month, helping the annual rate fall to 3 per cent, a boost for beleaguered President Joe Biden.

    • Updated
    • Matthew Cranston

    Two-thirds of Australia’s ‘Xennials’ earn more than their parents

    Australians have an easier time moving up the income ladder than workers in Scandinavia, the US, France and the UK, new research shows.

    • Tom McIlroy
    Yarra Capital’s Tim Toohey is tipping a much tougher year than expected.

    More RBA rate rises ‘unwarranted’ as non-migrant jobs growth tumbles

    Yarra Capital chief economist Tim Toohey has cut his economic growth forecast from 2.25 per cent to 1.75 per cent in 2024-25, well below the RBA’s 2.1 per cent.

    • Ronald Mizen
    The work participation rate for workers ages 25-54, also known as prime-age workers, increased to a 22-year high of 83.7 per cent.

    US payroll growth slows, jobless rate edges higher

    Average employment growth over the past three months slowed to the least since 2021, bolstering the case for a pivot to interest rate cuts.

    • Updated
    • Matthew Boesler

    June

    KPMG says reducing immigration will restrict businesses hiring the best workers, and be a handbrake on productivity.

    Why KPMG sees silver lining to 5pc jobless rate

    The big four firm says there is no “productivity crisis” and recent lacklustre results can be explained by the workforce shake-up caused by the pandemic.

    • Ronald Mizen
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    US unemployment is lingering around a 10-month high.

    US jobless claims linger near 10-month high

    Applications for unemployment benefits have remained subdued over the past year, as the labour market showed resilience.

    • Bloomberg News
    Syrian refugee Wissam Chabo eventually landed a permanent job at ANZ after working in jobs beneath his skill level for years.

    Skilled refugees could unlock $9b in extra GDP

    Maths graduate Wissam Chabo applied for 100 jobs before getting work in a local cafe. Research shows skilled migrants are badly underutilised, even during Australia’s skills shortage.

    • Euan Black
    Federal Reserve chairman Jerome Powell. Bond yields fell overnight after US data showed more signs that the economy was cooling.

    Investors dial up bets on September Fed rate cut after weak jobs data

    Traders ascribe a 78 per cent chance the US Federal Reserve will cut interest rates in September, opening the door for the RBA to follow.

    • Cecile Lefort
    Car manufacturing has been affected.

    US jobless claims jump to the highest level in 10 months

    The number of unemployment claims rose 13,000, higher than economists expected.

    • Matt Ott
    US President Joe Biden speaks about manufacturing jobs at a computer chip factory in Michigan last November.

    US adds far more jobs than expected in sign of economic health

    US employers added a vigorous 272,000 jobs in May, as the economy showed resilience that will prove a boost to President Joe Biden.

    • Updated
    • Christopher Rugaber
    Westpac chief economist Luci Ellis having Lunch with the AFR at Regazzi in Sydney’s CBD.

    Westpac’s chief economist Luci Ellis’ sliding doors moment

    It is rare people can point to a single, pivotal, life-changing moment but two events, 30 years apart, have shaped her career.

    • Ronald Mizen

    May

    Watch out – the bulls are running hard.

    Why bad news has the ASX bulls running

    Bad news from the job market turned a good day on the ASX into a great one. Investors are ploughing into market darlings in the firm belief that rate cuts are coming.

    • Updated
    • James Thomson
    Unemployment increased to 4.1 per cent in April.

    Jobless jump could unwind next month, economists say

    Economists predict some of the lift in unemployment in April may unwind in May, amid broader signs the jobs market remains strong and is absorbing a surge in migrants.

    • Updated
    • Michael Read

    Jobless rate up; No ‘quick’ house price fix: RBA; Buffett boosts bulls

    Read everything that’s happened in the news so far today.

    Treasury says a deterioration in the labour market may force cautious households to save rather than spend looming tax cuts.

    Treasury expects unemployment to climb to 4.5pc by this time next year

    Sluggish hiring could lead cautious households already grappling with higher interest rates to save rather than spend the windfall from tax cuts.

    • Michael Read
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    The lower inflation Jim Chalmers forecasts will require a sharper slowdown.

    Investors shouldn’t believe Chalmers on inflation just yet

    For inflation to get back to target by Christmas, more pockets of pain will have to emerge. But the corporate sector is holding up well. 

    • Updated
    • James Thomson
    One in 11 jobs in New York city is estimated to be either directly or indirectly associated with the securities industry.

    US job growth slows in April; unemployment rate rises to 3.9pc

    The closely watched US non-farm payroll report showed employers scaled back hiring.

    • Lucia Mutikani

    April

    Resources minister Madeleine King.

    Nickel miner axes 530 jobs as pressure builds for budget bailout

    Resources Minister Madeleine King says government alone cannot solve nickel industry woes as job losses near 2000 since December.

    • Brad Thompson
    The US economy slowed in the first quarter.

    US data shows economy in unexpected slowdown

    Growth in the world’s biggest economy was slower than expected, while an acceleration in inflation reinforced expectations rates won’t be cut before September.

    • Lucia Mutikani
    APM chief Michael Anghie and founder Megan Wynne when the company listed in 2021.

    It turns out APM wasn’t so ‘disappointed’ in MDP’s bid after all

    It has been a difficult period for the employment and NDIS services group, and brokers expect things to remain that way. But not enough to scare some off.

    • Sarah Thompson, Kanika Sood and Emma Rapaport