Jobs back in the spotlight as Michele Bullock and Jim Chalmers take to the stage
Jobs will be the focus following a busy week in geopolitics and central banking.
After a week dominated by global politics and central bank meetings, local economic data will once again seize the focus of investors and economy watchers.
Here’s what you need to know about the key economic data releases this week.
New numbers
The data: Wage Price Index, September, Australian Bureau of Statistics
When: Wednesday 13 November 2024
What to expect: Commonwealth Bank economists think the wages data will “confirm a wage price spiral did not eventuate in Australia” and there’s a continued easing of wage pressure. The bank’s own internal data is informing their prediction of a 0.9% rise over the quarter, bringing down the annual growth rate to 3.6% from 4.1%.
AMP deputy chief economist Diana Mousina is expecting quarterly growth in the September quarter wages data of 0.9% and 3.6% annually. In the previous quarter growth hit 0.8%, on the back of minimum and award wages increases. As Mousina says, this would “still be in line with a slowing in the pace of wages growth”.
