Responses to the Australian employment report coming through - more

Author: Eamonn Sheridan | Category: News

The data for jobs in Australia in May is here: 

And, this also:
Commentary (in summary) via Westpac:
  • survey was a mixed one.
  • Employment gains exceeded expectations
  • hours worked weakened
  • Virtually all off the job gains in the month were in part time
  • unemployment rate disappointed
  • still considerable slack in the labour market
  • underemployment rate now appears to be trending higher
  • mixed results may, in part, be due to sample rotation issues
  • jobs growth momentum remains robust
  • Looking ahead, we see the risk that jobs growth momentum slows, consistent with the slowing of domestic demand

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