30 Jun ARE WE THERE YET?; HYBRID OR DEATH – REBELLION OF THE WHITE-COLLAR WORKFORCE
ARE WE THERE YET?
Good news on the inflation front, with figures released this week confirming that inflation dropped from 6.8 per cent in April to 5.6 in May.
This was driven by a fall in petrol, travel, and holiday accommodation prices.
While the RBA is still keen to slow inflation towards its two to three per cent target band, some economists believe this latest data may see Australians escape another rate rise when the bank meets next week.
UBS Australia’s chief economist George Tharenou, who has correctly guessed every rate decision since July 2022, believes that the RBA will hold off increasing rates in July and lift rates by 0.25 per cent in August once they have seen June quarter inflation numbers.
Stay tuned for next Tuesday.
HYBRID OR DEATH – REBELLION OF THE WHITE-COLLAR WORKFORCE
Australia’s largest bank may have a serious revolt on their hands as hundreds of Commonwealth Bank employees complain to the union about the company’s return to office mandate.
Some have even threatened to quit.
Last month, Chief Executive Matt Comyn ordered the bank’s 49,000 employees to return to the office for at least 50 per cent of their working time, which appears to have angered some staff.
The Finance Sector Union’s National Secretary Julia Angrisano said members had “raised serious concerns about the significant impact this change would have on them, including on their work-life balance, mental health and wellbeing and caring responsibilities”.
THE MOST COMPETITIVE JOB MARKETS
Speaking of looking for a new job … If you are, there are a few countries to avoid because competition for roles is fierce.
A new study by online resume builder Resume.io, which analysed the number of applicants per LinkedIn job advertisement, found that Qatar, Dubai, and Istanbul are the most competitive job markets in the world, with an average of 399 people in Qatar applying for a single role in a week.
Back home, Sydney was found to be the most competitive of all Australian cities, with an average of 50.6 applicants per advertisement
Feel free to share these updates with colleagues or friends. They can sign up here to receive our daily newsletter.