Key data coming up from Australia later this week - wages and jobs
Wednesday 19 February 2020 brings Q4 wages data while the monthly employment report follows the next day.
While jobs growth has been ticking along at a decent pace wage growth is slower than the RBA would like, constraining consumption.
19 Feb at 0030GMT, Q3 Wage Price Index
- expected 0.5% q/q, prior 0.5%
- expected 2.2%, prior 2.2%
20 Feb 0030GMT, January labour market report
- Employment Change: K expected 10K, prior 28.9 K (bushfires and smoke haze across cities is expected to be a significant negative for the month)
- Unemployment Rate: 5.2% expected %, prior 5.1% (u/e is key for the RBA outlook and hence the AUD, although the RBA is on hold for a few months to come yet)
- Full Time Employment Change: K prior was -0.3K
- Part Time Employment Change: K prior was 29.2K
- Participation Rate: % expected 66.0%, prior was 66.0%