‘Real conundrum’: Jobs data weakens case for interest rate cuts

Deutsche Bank Chief Economist Philip O’Donaghoe discusses the risks surrounding bringing inflation down in Australia amid interest rate cut case weakening from the latest job data.

“The real conundrum we are facing here, we know the RBA wants to see inflation getting back to target,” Mr O’Donaghoe told Sky News Australia.

“We have got about a percentage point to go.”

[bradwatson]

Government needs to stop printing money!
Interest rates should be fixed at 6.25%!
Immigration needs to stop for 5 years!
Everything in our country is in danger.

[jarrydsavage]

Where have all these jobs been created, small businesses have been going under more than ever. Increasing public sector jobs does not help productivity and only increase the burden on tax payers that have to pay for them.

[kingangel]

To my Australian brothers and sisters you are not alone. They are clearly lying to us about where our taxes are going. Much love from the USA. These rare cuts mean nothing to us regular people

[robertrock]

No one talks about productivity. You never mention who is employing the people it is government!

[gregwooldridge]

The labour rate is false . If you work 4 hrs a week. That's classed as a full-time job.

[wtfplaya]

Remember...the majority of jobs created atm are in the public sector..not private. Typical Labor govt move..both satte and federal

[TruthWarrior]

Banana economics by Labor... make all the key macro metrics look good but on a personal level we are getting poorer and struggling.
GDP, unemployment, a surplus all manipulated to the peril of per capita metrics.

[CherieDemicz]

Most of these people are prob casuals and could only work so many hours per day or weekly and this is probably why unemployment is down 🤔

[CalciumHat]

Uber economy is kinda hollow huh? It's tax free if under 18, 200... easy to make cash friends and networks. "Highest taxed people". Go chase the top 200.

[privateAccunt]

Productivity is not increasing how many are working less hours couple hours in a cafe classified as employed and the government employing more in public sector so how much productivity is in the real economy that we keep hearing we need more workers in the building industry which has now become top heavy with white collar and building company's turning belly up fastest that we have seen in decades.

[lukeread]

Why even report on interest rate cuts. If they cut it will likely be one or 2 .25 cuts. They won't fall for making them 0.10 agian

[sicoco]

I would love to work if I can find a job. Being applying since May n only 2 interviews so far where I was unsuccessful. Wonder where the jobs have been created.

[shadowwater]

Human Shields 🛡️ got alot out of this update.
Thankyou.

[rabidsminions]

When rates do drop people should not increase their spending and build up their savings, for the eventual price rises and to counter anaemic wages growth.

[brucejay]

Lower interest rates are not such good news..Those who rely on bank interest to generate a little bit of extra cash via their modest savings accounts have been stuffed for years..Continuing low rates combined with rapid and excessive population growth will only ensure that the housing crisis continues and household debt will also continue to increase.
.Money is far too cheap to borrow.Anyone who can't pay 10% on a loan has.obviously borrowed too much.money

[shadowwater]

Do you Human Shields 🛡️get a interest cut also ?

[shadowwater]

Is there a Factory that makes Human Shields like Surfboards ?