NAB – The Morning Call · How many jobs will go?

How many jobs will go?

Thursday 18th June 2020

Australia’s latest unemployment numbers are out this morning and the rate is expected to rise. But NAB’s David de Garis says we won’t have a real handle on unemployment until the JobKeeper program comes to an end. In today’s Morning Call he points to research from YouGov in the UK, where a significant proportion of employers expect to retrench a chunk of their staff when the furloughing of workers comes to an end. Dave reckons the US job numbers – of which we get the latest weekly read tonight – could be a more significant indicator of the impact on jobs. There’s also discussion on a choppy session for equities – not helped by revelations on John Bolton’s new book – and what to expect from the Bank of England today.

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