Flash Notes
Jobs created in the formal economy in 4Q24
Employment in the formal non-agricultural sectors of the economy, as reflected in the Quarterly Employment Survey (QES), increased by over 12 000 jobs, or 0.1% q/q in 4Q24. Most of the jobs created were in trade, while the community services sector continued to shed jobs.
25 March 2025
Flash Notes
4Q24 QLFS: Another positive print, but more growth is needed
The Quarterly Labour Force Survey (QLFS), a household-based employment survey (not seasonally adjusted), reflected an increase in total employment during 4Q24 by 131 669 q/q, following an increase of 293 840 in the previous quarter. The level of unemployment declined by 19 573 q/q, bringing the total number of unemployed individuals to 7 990 947.
18 February 2025
Flash Notes
November retail sales exceed expectations
After a solid 6.2% y/y in October, retail sales accelerated further to a robust 7.7% growth in November, significantly outpacing the Reuters consensus expectation for a 5.5% increase. Excluding the disruptions caused by Covid-19 and the July 2021 riots to the data, this marks the strongest print in approximately 14 years (since June 2010).
22 January 2025
Flash Notes
GDP unexpectedly declines in 3Q24
Real GDP unexpectedly declined by 0.3% q/q in 3Q24, defying our and the Reuters consensus expectation of an expansion of 0.3% and 0.5%, respectively. The 2Q24 growth rate was also revised slightly downward to 0.3% from 0.4%, reflecting a particularly weaker performance in the agriculture, forestry, fishing, and manufacturing sectors relative to previous estimates.
03 December 2024
Flash Notes
Consumer inflation settles below the bottom of the inflation target band
20 November 2024
Flash Notes
3Q24 QLFS: A better outcome, employment still stalled by lack of robust growth
The Quarterly Labour Force Survey (QLFS), a household-based employment survey (not seasonally adjusted), showed an increase in employment during 3Q24 by 293 840 q/q, completely offsetting the 92 416 jobs lost in 2Q24. Unemployment fell by 373 305 q/q, bringing the total number of unemployed individuals to 8 010 520.
12 November 2024
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