Only one sleep to go until the Australian May labour market report!
Due in about 24 hours: 0130GMT on Thursday 14 June 2018
Preview via
ANZ:
- With ANZ jobs growth picking up in the latest month, and ongoing strength in business conditions, reported profitability and hiring intentions, we expect another moderate gain in employment in May. We look for a rise of 18k and an unemployment rate of 5.5%. Note that this month's report will also include the under-employment rate for the three months to May.
CBA:
- The May labour force numbers will include a quarterly reading of underemployment. Despite good jobs growth over the past 18 months or so the unemployment rate remains stuck around 5½% and underemployment is elevated. The leading indicators of employment are solid and suggest decent jobs growth over the next six months or so.
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Meanwhile, AUD/USD is on the defensive, slowly ticking under it overnight lows. Othre currencies edging a little lower against the USD so for once it not just AUD on the nose.
