US retail figures are below pre Christmas expectations. A sign of the growing retail recession?
#Woolworths #Economy #HeiseSays Woolworths has underpaid 5700 employees. Will we hear more stories as the retail recession growes? References https://www.news.com.au/finance/business/retail/woolworths-underpays-staff-300-million/news-story/20d62c31d3dec7f5157889453cfdbffc
#ConsumerConfidence #Westpac #Retail Westpac has reported that Consumer Confidence is up in August. A sign that the retail recession is turning around or simply the result of the tax rebate and the start of a new financial year? Let’s make sure to check next month when people receive the credit card bills. References Investopia Westpac […]
Unemployment #Recession #Retail JB Hi-Fi has bucked the trend and avoided the impact of the retail recession. A turn-around or simply a result of their product brand a people naively spending a tax-cut like a handout? References JB Hi-Fi announces strong profit, despite bleak retail conditions https://www.abc.net.au/news/2019-08-12/jb-hi-fi-results-profit-tough-retail-sector/11404608?section=business
#NegativeInterestRates #Recession #Australia The prospect of Deeply Negative Interest Rates is becoming a reality with a highly cashless society. Let’s re-look at a recent IMF blog post about this issue to help raise awareness of every Monetarist dream. References Currency (Restrictions on the Use of Cash) Bill 2019 https://www.treasury.gov.au/consultation/c2019-t395788 SIT Black Money Report: Here are […]
#Retail #Recession #Australia Australia’s retail recession continues to grow with a huge David Jones write down in value. Let’s look at some indices and anecdotes about Mainstreet. References David Jones value cut by another $437 million as Australian ‘retail recession’ hits hard https://www.news.com.au/finance/business/retail/david-jones-value-cut-by-another-437-million-as-australian-retail-recession-hits-hard/news-story/5f23466fb5a0a4c45ef658435ae581e5
#Recession #UnderEmployment #Unemployment Australia’s unemployment rate has remained steady at 5.2%. While that might sound like good news, it is masking an increase in our underemployment rate and part-time work due to the election. References Unemployment remains steady at 5.2pc despite an extra 42,300 jobs https://www.abc.net.au/news/2019-06-13/unemployment-remains-steady-despite-extral-42000-jobs/11205060?section=business
#Recession #Retail #NAB Recent NAB survey data indicates that while business confidence is up Australia’s retail sector is in recession the list of which have not been seen since the GFC. While many are hoping the recent RBA rate cut will help stimulate the economy, I think consumer confidence might be different. References NAB business […]