In this episode, we explore new research on how leading labor market indicators—like job advertisements, vacancies, and consumer unemployment expectations—can improve forecasts of the unemployment rate. You'll hear how combining data sources such as ABS vacancies, ANZ-Indeed job ads, and Westpac-Melbourne Institute surveys helps create a powerful summary indicator that outperforms traditional models. We also discuss the value of these tools in the Reserve Bank of Australia's forecasting framework and what they reveal about the health of the labor market. Perfect for anyone interested in economic forecasting, policy planning, or the dynamics behind employment trends.
Source: RBA
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