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, May 16, 2012

UBS: Aussie wages growth fastest since 2010

Yep, that will happen with a 4.9% unemployment rate. From UBS: The wage price index (ex bonus) was a tick above expected, up 0.9% q/q in Q1, after picking up 1.0%. The 2-quarter a.r. picked up to 3.8% – the fastest since 2010 – mostly offsetting the downtrend to up Q311. However, the y/y held at its 3.6% average, equal lowest since Q310. (Wages with bonus eased a tick to 3.5% y/y.) By industry mining picked up sharply to a 3-year high (4.6% y/y, after 3.6%), although 7 of the remaining 17 industries also accelerated. By State, WA surged to a near 3-year high (4.5%), but other States eased to the equal lowest since Q210.