This one via Paul Dales, chief Australia & New Zealand economist at Capital Economics
He says that it is striking that despite the strength of jobs growth and considering the reasonable health of the economy that there is still "a lot of slack" in the labour market that will need to be used up before wage growth rises significantly.
He adds that the unemployment rate will need to fall below 4.0% to trigger much faster wage growth, and says that financial markets are still "jumping the gun" by expecting the RBA to raise rates in 1H 2019.
The report was released earlier in the day here, and the unemployment rate ticked higher a little but that owes to a bump in the participation rate as well as Eamonn pointed out at the time.
