Unemployment, wages and RBA appearances: the week ahead in macro
Unemployment will be back in the spotlight, with RBA officials fronting up in Canberra not long after the new data is published.
After significant volatility in global markets and Reserve Bank forecasts that triggered a politically tumultuous end to last week, several crucial data points are set to be released as politicians return to Canberra for a sitting week.
Here’s what you need to know about the key economic data releases this week.
New numbers
The data: Wage price index (June), Australian Bureau of Statistics
When: Tuesday, 13 August 2024
What to expect: The consensus is for a 0.9% rise over the quarter and 4% year-on-year for the second quarter. This marks a slight softening compared to the 4.1% annual growth recorded in the year to March. CBA Group economists are predicting a 0.8% rise over the quarter, or 3.9% over the year.
The March quarter this year saw the first easing of the wage price index since the September quarter 2020, with a growth rate of 4.1% compared to 4.2% in the December quarter 2023.
