More Australian labour market data due tomorrow - preview of the April jobs report
Due at 0130GMT on Thursday 17 May 2018 - employment data from Australia for April
This monthly data is volatile, but the trend has been for solid jobs growth. As you may have noted from the data earlier today though, wage growth is slow indeed:
- Australia Q1 Wage Price Index: 0.5% q/q (vs. expected +0.6%)
- A quick take on the Australian wage data: remains very weak ... real wages barely rising
Solid jobs growth is not enough .... un- and under-employment is weighing on wage gains.
For the data tomorrow, preview via ANZ:
- While ANZ Jobs Ads growth has slowed in the last three months, ongoing record business conditions, alongside strong profitability and hiring intentions, suggest that employment growth is likely to have remained solid in April. We look for a rise of 20K and an unchanged unemployment rate of 5.5%.