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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

(ANZ)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 07/30
27.71 AUD   -0.14%
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Australia and New Zealand Banking : ANZ Job Ads continues its streak

06/06/2021 | 09:59pm EDT

'ANZ Job Ads hit 12 straight months of gains in May, and is now consistent with an unemployment rate of around 5 per cent.' ANZ Senior Economist, Catherine Birch said.

'In May, we upgraded our labour market forecasts, and now expect an unemployment rate of 4.8 per cent by the end of this year and 4.4 per cent by end-2022. We think solid employment growth will drive this rapid improvement, notwithstanding near-term volatility post-JobKeeper.'

'The Victorian lockdown is unlikely to derail the state's labour market recovery. Even if we see some employment losses in June, as long as restrictions start easing from 11 June as currently planned, workers should be reinstated or find new jobs quite quickly, given the underlying strength in the labour market.'

'In addition to ANZ Job Ads, NAB's employment index and capacity utilisation are signalling further solid employment gains, and the Westpac-Melbourne Institute's Unemployment Expectations Index has fallen to a decade low. While the strength in ANZ Job Ads and ABS job vacancies is unlikely to fully translate into employment, due to skills mismatches and restricted labour mobility (both domestically and due to closed international borders), we still think employment growth will be very strong, particularly given such low population growth.'

'Consequently, we expect both unemployment and underemployment to fall further. What is still uncertain is the strength of the transition from lower underutilisation to higher wages growth, and then to inflation. The Q1 Wage Price Index was slightly stronger than expected, annualising at 2.4 per cent. While still below the RBA's 3 per cent yardstick, the gap is narrowing, which has implications for the timing and speed of RBA policy changes.'

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ANZ - Australia & New Zealand Banking Group Ltd. published this content on 07 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2021 01:58:04 UTC.


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Financials
Sales 2021 17 506 M 12 849 M 12 849 M
Net income 2021 6 022 M 4 420 M 4 420 M
Net Debt 2021 - - -
P/E ratio 2021 13,6x
Yield 2021 5,01%
Capitalization 78 332 M 57 546 M 57 496 M
Capi. / Sales 2021 4,47x
Capi. / Sales 2022 4,31x
Nbr of Employees 37 844
Free-Float -
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Number of Analysts 13
Last Close Price 27,71 AUD
Average target price 29,92 AUD
Spread / Average Target 7,98%
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Managers and Directors
Shayne Cary Elliott Chief Executive Officer & Executive Director
Shane Buggle Chief Financial Officer
Paul Dominic O'Sullivan Chairman
Gerard Florian Group Executive-Technology
Michael Liarakos Chief Compliance Officer