1. Unemployment data out today!

Today we get the latest reading on our job market and what it tells us could be good or bad news for mortgagee sufferers. Understand this, if the news is good for the unemployed, it will be bad news for anyone finding interest rate rise repayments hard to cope with. Economists expect the labour force data to show 17,000 more people in work in November, with the unemployment rate tipped to remain steady at a 48-year low 3.4%. Westpac even expects the jobless rate to fall to 3.3% and given job ads data tells us that there is a record percentage of job vacancies, this could be great news for the unemployed and reason for the Reserve Bank to keep on raising interest rates.

2. Let in more skilled young migrants

To solve out labour supply problems, a think tank group says we should let in more young skilled immigrants. The Grattan Institute has called for permanent employer sponsorship to be made available for workers in any occupation earning more than $85,000 a year. The AFR tells us: “Grattan says only a quarter of permanent visas issued in the past decade went to migrants on the basis of skill, with the remainder allowing family and humanitarian applicants to enter the country.” It comes as fewer international students and temporary sponsored workers are transitioning to permanent residency in Australia, with those who do facing much longer waiting times than in the past. The Federal Government is currently reviewing our migration system.

3. Woolies off the grog

Woolworths is going off grog at Dan Murphy’s in favour of cuddly dogs and cats! Woolworths was once the 100% owner of Dan Murphy’s and other booze outlets but it listed its drinks business separately on the stock market keeping 14.6% of the new company called the Endeavour Group. But this week it sold 5.5% of its shares and the share price fell 4.3% to raise $636 million and speculation is that it will use the money to build a stake in pet goods retailer PETstock. Australians spend nearly $31 billion on pets each year!

4. DJ’s to be someone’s Christmas present?

Speculation is rife that private equity firm Anchorage Capital is set to buy DJs from the retailer’s South African parent company, Woolworths Holdings. They paid $2.1 billion eight years ago and believe it or not, the SMH reports that “Market speculators are putting the value of the sale at between $120 million and $150 million – a fraction of the sale price brokered less than a decade ago.” That said, the South Africans are shrewdly keeping the Melbourne store in the Bourke Street Mall.

The sale comes as the store is on the improve.

“David Jones’ turnover and concession sales increased by 55.3 per cent, with our flagship and CBD-located stores performing well ahead of expectations,” Woolworths Holdings said in an update to shareholders.

Still, with that write down in value, our South African buddies must need a lesson or two on selling to Aussies!

5. Government to pay us to dump gas

The Australian says “Anthony Albanese will offer households financial incentives to switch from gas to electricity in an un-costed deal with the Greens to wave through the government’s legislation to intervene on power prices. The deal, announced by Greens leader Adam Bandt, could see households offered concessional loans to switch gas hot-water systems, or appliances such as ovens and heaters, to electric alternatives.”