The Australian March labour market report is here, a solid beat indeed on jobs added:
More details at that post, it ain't all sunshine and lollipops.
Comments from Shane Oliver, Head of Investment Strategy & Chief Economist at AMP Capital here in Australia. Says that while growth in jobs & hours worked are still strong, the slowing of growth in vacancies, and declines in falls in job advertisement, along with a declining trend in the employment components of the PMIs points to slower jobs growth ahead.
- We see unemployment trending up to 5.5%
- continue to see 2 RBA rate cuts this year
