Today's Economic Data is Not Good:
* Unemployment UP to 5.3%
* Underemployment UP to 8.6%
* Underutilization Rate UP to 13.9% (sum of above)
All heading in wrong direction for RBA Governor, Philip Lowe.
* Budget in Phantom Surplus with 2018-19 Fiscal Surplus of just $690m
So, money's on more interest rate cuts, a dose of QE, and...???; all of which are unlikely to reduce above jobs data, increase Real GDP.
Meanwhile, Per Capita Real GDP continues to fall.
https://www.bloomberg.com/news/articles/2019-09-19/australian-jobless-rate-rises-as-workforce-swells-to-new-record?srnd=premium-asia
