2 Responses to Qantas – A freckle on your face

  1. Conus Business says:

    Hear hear. I'm curious about your take on the jobs data though. On Saturday you, correctly, called a possibly large jobs number but in that weekend post suggested that any such increase would be "superficially large".
    Given yesterday's number do you now think employment is growing "around trend"? If so I would be really interested to read a piece from you outlining what you perceive the changes have been in the past few weeks that have resulted in you shifting your position (and this is in a non-"Joye rubbing your nose in it" kind of way but from a genuine "I'd be fascinated" desire.
    Thanks

  2. DMc says:

    It is news because it is a highly visible symptom of the effects of Australia's increasing invovlement in the the competitive side of the world economy and the impact of the resources-driven high aussie dollar. Qantas isn't a manufacturer but relies on heavy maintenance. It also competes head-on in a highly commoditised marketplace with businesses that are foreign owned, foreign run and foreign maintained. If Qantas falls off the perch it will be the death of what was until recently a relatively healthy canary in the coal-mine that is the Australian manufacturing industry.

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