The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Wednesday, August 15, 2012

Wages data surprises on the strong side

From Merrill Lynch:

The (seasonally adjusted) June quarter wage cost index came in at 1.0% qoq slightly greater than the market had expected (at 0.9%) and accelerating from the 0.9% qoq gain in the previous quarter. Through the year (seasonally adjusted) wage growth was 3.7% yoy. Private sector wages grew 1.0% (up 3.9% yoy) and public sector wages also gained 1.0% (up 3.2%yoy).