Coming up from Australia tomorrow is the January jobs report from the Australian Bureau of Statistics.
- due at 11.30 am local time
- 0030 GMT 7.30 pm US Eastern time
- This snapshot from the ForexLive economic data calendar, access it here.
- The times in the left-most column are GMT.
- The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
Snippet from Westpac's preview:
- We suspect that illness-related absences and a ‘catch-up’ in summer leave will result in an employment print slightly below trend, as opposed to another outright decline.
- The unemployment rate is just 0.1ppts off the 50-year low print of 3.4% in October, signalling a still historically tight labour market.
- Holding participation at 66.6% and the rate of growth in the working age population steady, this should see a 20k increase in the labour force in December. Our forecast 15k gain in employment is enough to hold the unemployment rate at 3.5%
