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