Bank of America Merrill Lynch on the jobs data
(Data is here ICYMI: Australia (May) Employment Change: +42.3K (expected +16K) & Unemployment 5.2% (expected 5.1%)
- Jobs growth mostly in temporary positions
- unemployment rate stayed high
- the rate is the RBA's main focus, supports notion of further monetary policy support 9ie cuts ahead)
Given those points (amongst others) are similar to the one's I made earlier I have to agree (and I commend BoAML also of course ;-) )
