Reserve Bank of Australia's Christopher Kent, Assistant Governor (Economic), the topic of his speech is "Recent Labour Market Developments":
- Expects unemployment to stay steady through 2016, fall in 2017
- Says slightly less spare capacity in labour market than earlier anticipated
- Says labour market has proved more resilient than expected, cites some reasons
- Slower than expected population growth likely to lead to downward revision to labour force
- Also likely to be upward revisions to labour productivity growth
- Unusually low wage growth has improved cost competitiveness of labour
- Conditions in labour-intensive service sectors has improved
- Labour, gdp data might be providing noisy signal, but hard to be sure
Quick Headlines via Reuters
Full text: Adjustments in the Labour Market
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These comments point to a lower likelihood of further RBA rate cuts, at the margin, and are AUD supportive
