Preview of the Australia Labour Market Report for June due on 19 July 2018 at 0130GMT

Consensus expectations:

  • Employment Change: K expected 16.5K, prior 12.0K
  • Unemployment Rate: % expected 5.4%, prior 5.4%
  • Full Time Employment Change: K prior was -20.6K
  • Part Time Employment Change: K prior was +32.6K
  • Participation Rate: % expected 65.5%, prior was 65.5%

ANZ are looking for another moderate gain in employment, +20K for the headline and 5.4% jobless rate. The bank cite:

  • Ongoing strength in business conditions,
  • reported profitability and hiring intentions

And while ANZ Job Ads have softened a touch

  • ABS vacancies were particularly strong in Q1

Meanwhile, via CBA, looking for a touch softer but a respectable 15k rise

  • The pace of jobs growth has eased … quite a bit weaker than the red-hot pace of jobs growth in 2017
  • Despite employment growth slowing, the underlying fundamentals look positive
  • all measures of job vacancies are rising at a solid pace