The Australian labour market report is due Thursday 21 March at 0030GMT
- Employment Change K expected +15K, prior +39.1K
- Unemployment Rate % expected 5.0%, prior 5.0%
- Full Time Employment Change K prior was +65.4K
- Part Time Employment Change K prior was -26.3K
- Participation Rate 65.7% expected %, prior was 65.7%
The Reserve Bank of Australia just reconfirmed, in the minutes to the March meeting, the importance of this data. Its commonly accepted that ;labour market data is a lagging indicator. Despite more forward-looking indicators available the RBA has turned to jobs. Go figure.
Anyway.
Preview via ANZ:
- The leading indicators suggests the pace of employment growth should slow over the next few months after it accelerated in the last quarter of 2018 and January. A feature of the past few years has been the relatively stability of the monthly employment prints, with only two negative results in 2018 and none in 2017. As the underlying pace of employment growth slows, the prospect of a negative headline print likely increases.
