Australian employment market report today, reactions from ...

Michael Workman, a senior economist at CBA

  • "Annual growth in full-time jobs was 3.9 percent, which is extraordinary,"
  • Yet, a lot of the increase is in areas such as healthcare and tourism, which are at the lower end of the wage scale,"
  • That means the total income effect of all these jobs is less than in past booms, and it is a lot more benign for inflation."

Kate Hicki, Sydney-based economist at Capital Economics:

  • "However, the abundance of spare capacity already in the labour market means that even if jobs growth remains strong there will be plenty of slack for some time yet
  • This explains why we expect wage growth to remain around 2 percent throughout the next year despite recent improvements in the jobs market."

Those two via Reuters

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This also, from ANZ:

  • Australian labour market in great shape
  • 12 straight months of employment gains
  • The longest stretch since 1994

Earlier: