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Delta distorts another labour result; OECD policy advice

This week’s big data release was the August labour force report, where lockdowns continued to distort some of the headline data. This produced the disconcerting combination of another fall in the unemployment rate – this time to 4.5 per cent, its lowest rate since late 2008 – alongside a drop in employment of more than 146,000 people and a 3.7 per cent slump in hours worked. The explanation for this peculiar blend of outcomes was another big decline in the participation rate as the size of the Australian labour force shrank for a second consecutive month. ....

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Sydney housing sentiment holds up in lockdown


Mortgage Business
Sydney housing sentiment holds up in lockdown
By Malavika Santhebennur
28 July 2021
Consumer sentiment around Sydney housing dipped only marginally, hinting at a disconnect between concerns about lockdown and attitudes towards housing, according to Westpac.
The Westpac-Melbourne Institute Index for July 2021 has revealed that the “time to buy a dwelling” index increased from 96.1 in June 2021 to 96.9 in July 2021.
This has reversed recent trends where the index had declined for five consecutive months and had shown significant signs of stress and was in pessimistic territory for the first time since April 2020.
Despite the slight monthly uptick, the index has remained significantly lower (26.5 per cent) from its peak in November, reflecting concerns about the impact of steep house p ....

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Forget vaccines. House prices cure COVID!


MacroBusiness
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That’s the message from today’s Westpac consumer sentiment release:
• The Westpac-Melbourne Institute Index of Consumer Sentiment rose by 1.5% to 108.8 in July from 107.2 in June.
The survey was conducted over the week of July 5–9, during the lock-down in Sydney and restrictions in regional NSW but before the tightening of restrictions announced on July 9.
Confidence has held up overall despite a sharp fall in NSW as other states – notably Victoria and Western Australia – recorded strong bounce-backs from COVID-related disruptions in June.
The main takeaway is that concerns around the current virus outbreak and associated restrictions in NSW are not spilling over to the rest of the country. This contrasts with Victoria’s ‘second wave’ outbreak in August last year which weighed heavily on sentiment across the rest of the country. ....

New South Wales , Westpac Melbourne Institute Index Of Unemployment Expectations , Melbourne Institute Index Of Consumer Sentiment , Bank Board , Westpac Melbourne Institute Index , Consumer Sentiment , Western Australia , Northern Beaches , Unemployment Expectations , House Price Expectations , Reserve Bank Board , Monetary Policy , புதியது தெற்கு வேல்ஸ் , வெஸ்ட்பேக் மெல்போர்ன் நிறுவனம் குறியீட்டு ஆஃப் வேலையின்மை எதிர்பார்ப்புகள் , மெல்போர்ன் நிறுவனம் குறியீட்டு ஆஃப் நுகர்வோர் உணர்வு , வங்கி பலகை , வெஸ்ட்பேக் மெல்போர்ன் நிறுவனம் குறியீட்டு , நுகர்வோர் உணர்வு , மேற்கு ஆஸ்திரேலியா , வடக்கு கடற்கரைகள் , வேலையின்மை எதிர்பார்ப்புகள் , வீடு ப்ரைஸ் எதிர்பார்ப்புகள் , இருப்பு வங்கி பலகை , பண பாலிஸீ ,