- Analytics
- News and Tools
- Market News
- Little in Australia jobs report to suggest RBA is closer to cutting – TD Securities
Little in Australia jobs report to suggest RBA is closer to cutting – TD Securities
Analysts at TD Securities don't think that the latest employment data from Australia will bring the Reserve Bank of Australia (RBA) closer to lowering its policy rate.
Australian labour market remains tight with
"Australian headline employment fell 6.6k in March, softer than the +10k consensus and TD's +18k f/c. Given the significant increase in jobs posted in February, a much larger giveback could have happened, so the 6.6k drop is not too bad."
"Driving the negative print was the 34.5k drop in part time but full time rose 27.9k (this is strong) while there were upward revisions to headline and full time for February. Seasonally adjusted monthly hours worked rose by 0.9%. The participation rate dropped from 66.7% to 66.6%, helping to limit the back up in the unemployment rate from 3.7% to 3.8%."
"Overall today's report supports the call that the Australian labour market remains tight with employment growth of 2.4% YoY, the employment-to-population ratio and participation rates still close to their November record highs. There is little in today's report to suggest the RBA is closer to cutting."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
