CHART OF THE DAY: Australia, Here Come The Jobs

The Australian economy is clearly reacting to the RBA’s low interest rate policy, but the one thing missing so far is an uptick in the jobs market.

So it’s good news from Westpac this morning with the publication of a chart pack which suggests that the outlook for job seekers is about to turn and it looks like the turn will be significant.

Westpac Jobs Index suggests a strong recovery

The really good news is that the small business outlook is similarly rosy for employment.

If the index is right – and it does look like a very good relationship here between employment and the index – then more Australians will be in work by early next year, which will spread income throughout the economy which will be spent and so contribute to the much needed rebalancing of the economy.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.