The Australian jobs report …. here is the first headline I've seen in the press:
Breaking: The national unemployment rate has fallen to its lowest level in eight years
I posted the data and take here:
But, ladies and gentlemen, its that drop below 5% for the unemployment rate that is making the headlines … and giving an excuse to mark the AUD higher.
ps. Check out the link above for all the pertinent details in the jobs report - its not as good as the u/e rate headline would have you believe … but sometimes its all about the PR ladies and gentlemen. The RBA will use '4.9%' to beat their critics about the head with. As will the government.
If this seems wrong to you, remember, life's a bitch and then you die ;-)
