From the FXWW Chatroom: MNI: AUSTRALIA OCT UNEMPLOYMENT RATE 5.4%; MNI MEDIAN 5.5%
AUSTRALIA OCT EMPLOYED PERSONS +3700 M/M; MNI MEDIAN +20000
AUSTRALIA OCT LABOR PARTICIPATION RATE 65.1%; MNI MEDIAN 65.2%
AUSTRALIA OCT EMPLOYED PERSONS +3700 M/M; MNI MEDIAN +20000
AUSTRALIA OCT LABOR PARTICIPATION RATE 65.1%; MNI MEDIAN 65.2%
MNI: AUSTRALIA OCTOBER UNEMPLOYED -8,100 M/M
AUSTRALIA OCTOBER FULL-TIME EMPLOYMENT +24,300 M/M
AUSTRALIA OCTOBER PART-TIME EMPLOYMENT -20,700 M/M
AUSTRALIA OCTOBER EMPLOYMENT-TO-POPULATION RATIO 61.6%
AUSTRALIA OCT MONTHLY HOURS WORKED +4.6 MLN HOURS M/M
AUSTRALIA OCTOBER FULL-TIME EMPLOYMENT +24,300 M/M
AUSTRALIA OCTOBER PART-TIME EMPLOYMENT -20,700 M/M
AUSTRALIA OCTOBER EMPLOYMENT-TO-POPULATION RATIO 61.6%
AUSTRALIA OCT MONTHLY HOURS WORKED +4.6 MLN HOURS M/M
AUSTRALIA DATA REACT: Thoughts from Nomura’s Peter Dragicevich; Mixed employment
report with employment up 3.7k (mkt 18.8k). Fulltime was up (24.3k), with part
time lower (-20.7k). The dip in the unemployment rate to 5.4% reflected the
decline in the participation rate (back to 65.1%). The trend data (which strips
out the volatility), had the unemployment rate holding steady at 5.5%, and
employment up 20k. The labour market continues to improve, but as observed in
yesterday’s data, the improvements are yet to feed through to any meaningful
acceleration in wage growth. Excess slack remains and the subdued inflation
backdrop should continue to keep the RBA side-lined.
report with employment up 3.7k (mkt 18.8k). Fulltime was up (24.3k), with part
time lower (-20.7k). The dip in the unemployment rate to 5.4% reflected the
decline in the participation rate (back to 65.1%). The trend data (which strips
out the volatility), had the unemployment rate holding steady at 5.5%, and
employment up 20k. The labour market continues to improve, but as observed in
yesterday’s data, the improvements are yet to feed through to any meaningful
acceleration in wage growth. Excess slack remains and the subdued inflation
backdrop should continue to keep the RBA side-lined.
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