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.