ONLY CHARTS #300

Aus job vacancies, Aus trade balance, Aus borrowing households' cash flows, NZ household saving & tax burden, NZ wage & profit shares

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While it’s not clear if anyone is listening to us on this US “Liberation Day”…

…as the US Administration thinks it is appropriate to estimate other countries’ tariff and non-tariff barriers simply as the maximum of 10% OR the bilateral goods trade deficit divided by US goods imports for each country…

…but we’ll forge ahead.

1. The number of job vacancies in Australia - as measured by the ABS employer survey - fell 4.5% q/q in February. This largely retraced the increase over the prior 3 months.

2. Private-sector job vacancies in Australia declined 5.4% q/q in February while public-sector vacancies rose +3% q/q.