Any cries from the Morrison government championing the gains in unemployment figures being tied to a greater economic outlook has a premature ring to it, Australia’s union movement said on Thursday. As the nation’s unemployment figures fell by 0.2 percent to 6.6 percent for the month of December, according to the Australian Bureau of Statistics…
Yesterday’s ABS labour force release for December revealed that Australia’s youth unemployment rate – i.e. for those aged 15 to 24 years old – fell sharply on the back of a sharp fall in the participation rate. The headline youth unemployment rate fell 1.7% to 13.9% but remains more than 2.5 times higher than the
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Iron ore prices for January 21, 2021: Spot and paper up. CISA released late December steel output: There was a serious demand surge into late December in China. This was the same period that steel inventories got run down so it was big. It helps explain some of the explosive price action. No change to
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Last night saw the frothiness in risk markets take a small pause as bond yields rose slightly on the lower than expected US weekly jobless claims, as the latest ECB meeting also made no waves. The USD continued its retreat however, while commodities were mixed, Bitcoin crashed to a new monthly low. The cryptotulip was
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Will Morrison take Biden's lead on climate? The fact that he marked the moment of the US rejoining Paris with a whirlwind tour of oil and gas projects is not a good sign.
Data from Westpac: US weekly jobless claims eased back from last week’s high levels. Initial claims came in at 900k (vs. est. 935k, prior revised to 926k from 965k), with continuing claims at 5.054mn (est. 5.3m, prior revised to 5.18m from 5.27m). Housing starts rose 5.8% (est. 0.8%, prior revised up to 3.1% from 1.2%), and permits rose
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As they develop a coherent narrative and unifying ideology, extremist movements and leaders increasingly come out of the shadows and communicate over open forums in an effort to recruit and radicalize a wider following.
Among the many familiar Catholic references in Joseph R. Biden Jr.’s inauguration speech, one stood out as surprising: a quote from St. Augustine.
"Many centuries ago, Saint Augustine, a saint in my church, wrote that a people was a multitude defined by the common objects of their love, defined by the common objects of their love."
Amid the trumped-up support of Donald Trump, you might remember the time he made some lewd comments, on a recording, about women. The one where he mentioned grabbing them by the p#ssy. At the time, his running partner Mike Pence said “I do not condone his remarks and cannot defend them.” After that episode, he continued to…
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Don’t listen to what they say, watch what they do, at AFR: Andrew Forrest contracted the potentially deadly COVID-19 virus while globe-hopping in pursuit of renewable energy projects for his Fortescue Metals Group and spent several days in a Swiss hospital receiving high-level care. Why is Australia’s richest man risking life and limb flying around
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In the week ended 21 January 2021, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose another 0.15%: It was the 14th straight weekly rise. All major markets recorded value rises: So far in January, dwelling values have risen by 0.26%, with the three smaller capitals recording strong
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Global Macro / Markets / Investing: Gold rises due to US stimulus expectations – Guardian Mag S&P 500 rises to all-time high ahead of Biden’s inauguration, Netflix leads Nasdaq to a record – CNBC Inflation Is Coming. That Might Even Be a Problem. – Bloomberg Risk of ‘lost generation’ amid global asset bubbles and debt
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The union which oversees its member journalists and others involved with media and creative arts in Australia has issued a list of concerns in conjunction with two major media reform-related actions, less than a fortnight away from the federal Parliament convening for the first time in 2021. The Media, Arts and Entertainment Alliance (MEAA), in…