5 in 5 with ANZ
5 in 5 with ANZ
Tuesday: Just how tight is Australia's labour market?
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Tuesday: Just how tight is Australia's labour market?

Blair Chapman unveils FTE-pop, a new measure of labour market tightness that cancels out the noise in the unemployment rate; China industrial profit growth softens; Eyes on Australian travel costs

China’s industrial profit growth has slowed sharply, increasing expectations for more stimulus.

In part one of our bonus deep-dive interview, ANZ Australia Economist Blair Chapman has come up with a better measure of how tight the labour market is: FTE-pop.

5 things to know

  1. Global markets were mixed overnight. The US 10-year Treasury yield fell five basis points to 4.42% by 5am Sydney/Melbourne time. The A$ was firm at 65.91 USc, as was the NZ$ 60.83 USc. Gold rose to US$2,010.35 an ounce.

  2. China’s Industrial Profit growth slowed sharply to 2.7% in October from a year ago. ANZ China Senior Strategist ZhaoPeng Xing cites lower oil prices.

  3. ZhaoPeng sees more help from China’s authorities on both the supply and demand sides of the property market.

  4. ANZ Australia Senior Economist Catherine Birch will be watching travel prices closely in tomorrow’s CPI figures for October.

  5. Australian retail sales volume figures for October later today are expected to show a 0.5% rise, which is slower than the previous month.

Cheers

Bernard

PS: Look out tomorrow for part two of our deep dive interview with ANZ Australia Economist Blair Chapman, where he maps out the sweet spot for FTE-pop, and whether Australia’s economy is still running so hot that the RBA has to hike again.

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5 in 5 with ANZ
5 in 5 with ANZ
A daily podcast hosted by Bernard Hickey that gives you the five things you need to know about the global economy and markets in under five minutes. Plus a deep dive into emerging trends and issues featuring ANZ's global team of experts.