It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
Despite the cooling of wage growth nationwide, certain sectors, including legal, dental, child care, and medical information, are experiencing relatively strong earnings growth. The job market remains healthy, and this growth in specific sectors is a positive sign. While high wage growth may not necessarily translate to high salaries in all cases, it does provide opportunities for workers seeking higher earnings.
Inflation rose to 3.5% in March, driven by higher housing, gasoline, and other costs. However, some areas, like groceries, have seen improvement. While overall inflation is still elevated, wage growth has outpaced inflation, boosting household buying power. Experts believe inflation may be taking longer to subside than expected, but progress is being made and a return to normal levels is anticipated.
The US economy created 303,000 jobs in March, exceeding expectations. The unemployment rate remained low at 3.8%, despite an increase in the participation rate. Wages rose 0.3% for the month, consistent with forecasts. Healthcare, government, hospitality, and construction sectors contributed significantly to job gains. Despite positive overall trends, the unemployment rate among Black individuals increased. The strong job market could influence the Federal Reserve's decision on interest rates.
Headline inflation dropped to 3.4% in February, the lowest since September 2021. The Bank of England is projected to hold interest rates steady at 5.25%, despite expectations for a cut in June. The labor market has shown signs of improvement, with wage growth slowing and unemployment rising. The Bank of England remains cautious and will monitor data on services inflation and wage growth before potentially reducing rates later this year.
The European Central Bank (ECB) is keeping interest rates steady despite economic concerns. While inflation is expected to moderate, GDP growth forecast for 2024 has been revised down to 0.6%. Market expectations for a rate cut in June align with the ECB's views. The ECB will monitor wage growth and profit margins to assess inflation risks. The euro weakened after the announcement, which has raised expectations of rate cuts in the summer.
