FEAR & GREED | Business News Surprise jobs surge; PM visits Indonesia; Tesla chair’s share sell-off
May 15, 2025
A surprising surge of 89,000 jobs in Australia may not save the country from an expected interest rate cut. The Prime Minister's first overseas visit highlights strengthening ties with Indonesia. Meanwhile, the Greens chose a new leader amidst shifting political dynamics. Tesla's Chair cashes out on stocks as share prices dip, raising eyebrows in the market. In the automotive realm, sales of plug-in hybrids are plummeting, showcasing the impact of changing government policies. It's a whirlwind of economic news!
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Ride for Country Kids Journey
- Sean Aylmer and Adam Lang rode 135 kilometers from Bourke to Cobar with 98 friends to raise money for Royal Far West.
- They felt great about the achievement but suffered soreness and met many kids along the way, inspiring donations from listeners.
Hot Labour Market Insight
- Employment surged by 89,000 in April, more than four times economists expected, with steady unemployment at 4.1%.
- The participation rate hit a historical high, indicating a hot labor market where jobs exceed population growth.
Interest Rate Cut Likely
- Despite strong labor market numbers, the Reserve Bank is likely to cut interest rates next week due to controlled wages and declining inflation.
- Markets have priced in a 92% chance of rate relief on May 20, 2025.