Responses to the Australian employment report coming through - more again

Author: Eamonn Sheridan | Category: News

ICYMI the data and my response is here: 

Some comments:

BIS Oxford Economics (via Reuters report):
  • "The data confirm the RBA's view that the economy needs to generate more jobs to reach full employment, and that policy loosening is needed to achieve this
  • expect ...  two more (cuts) this year"

JPMorgan Asset Management (via Bloomberg report):

  • jobs gains nearly all driven by part-time, RBA will not see this as sign of a healthy labour market
  • "The big question is whether this stronger headline figure moves the needle for the RBA ... The answer is no"
  • case for cut in August
  • raises the probability of further cuts by the RBA in 2020
AUD languishing:

ICYMI the data and my response is here: 

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