Money: Leading employment indicator drops again - PressFrom - Australia

MoneyLeading employment indicator drops again

16:21  15 may  2019
16:21  15 may  2019 Source:

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Leading Indicators Drop Again . By ROBERT D. HERSHEY JR. and Nine of the 11 components of the index of leading indicators declined, paced by tumbling stock The jobless report also showed that, although the October unemployment rate remained unchanged at 5.7 percent, employment fell

The Leading Economic Indicators dropped 0.7% in September. The Conf Board blamed higher energy prices, declining consumer confidence and a rise in jobless claims for the index’ decline. Recall that the LEIs were recently revised to maintain a more positive bias.

Leading employment indicator drops again© AAP Images The Leading Indicator of Employment released by the Department of Jobs and Small Business recorded a fall in May for the 13th month in a row.

The federal government's Leading Indicator of Employment fell for the 13th month in a row in May, hinting at a slowing economy.

The index, released by the Department of Jobs and Small Business on Wednesday, noted cyclical employment fell for the second consecutive month in May but that it was too early to confirm that cyclical employment had recently peaked.

The leading indicator is seen as a forward-looking measure and is compiled from a diverse set of data including interest rates, consumer sentiment and Chinese manufacturing activity.

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Australia's Department of Education, Employment and Workplace Relations says its leading indicator of employment fell for the fifth consecutive month in May. The leading indicator is designed to give advance warning of turning points in cyclical employment .

BREAKING DOWN Leading Indicator . Leading indicators must be measurable in order to provide hints as to where the economy is headed. Investors use these indicators to guide their investing strategies as they anticipate future market conditions.

The results recorded a contraction in four of the five components of the indicator, with "weaknesses in consumer confidence, business sentiment and US economic conditions" being partially offset by an increase in the Purchasing Managers' Index for manufacturing output in China.

The leading indicator anticipates movements in the growth cycle of employment but a turning point is only confirmed after six consecutive monthly moves in the same direction.

The calculations precede the Thursday release of the ABS' unemployment rate, numbers keenly awaited by analysts because a slowdown in job growth could spur the Reserve Bank of Australia to cut interest rates.

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