AUD traders - employment report for Australia coming up, preview
The August Australian labour market job report is due on 13 September 2018
- Coming up at 0130GMT
What to watch for:
- Employment Change: +18.0K expected, prior -3.9K
- Unemployment Rate: 5.3% expected, prior 5.3%
- Full Time Employment Change: prior was +19.3K
- Part Time Employment Change: prior was -23.2K
- Participation Rate: 65.6% expected, prior was 65.5%
- ANZ: Australian monthly jobs report (for August) today - preview
- TD (looking for an outlier result indeed, check it out): Australian monthly jobs report is due Thursday 12 September 2018 - preview
This via Westpac on their expectations (I bolded their their headline expectations):
- In July, the incoming rotation group has an employment to population ration lower than the group it replaced but on par with the sample as whole. We expected this and is why, in part, we forecast a small number. In August, the group rolling out is more like the sample overall so we will not speculate this month on the possible impact of sample rotation.
- Our Jobs Index model suggests that labour demand may have eased but it still at a robust level. As such, we have forecast an around trend 18k for August.
- Westpac's forecast for an around trend rise in employment of 18k, and with the participation rate rounding up to 65.6%, will see the unemployment rate hold flat at 5.3%.