Australian Employment Report Much Stronger Than expected

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    Australia saw much stronger than expected full and…



    RBA Dep Gov Debelle speech on the labor market in Australia

    The dynamics at play in the labour market are important considerations for monetary policy. Full employment is an objective for the RBA in and of itself, and the state of the labour market has a significant influence on the achievement of the RBA’s inflation target.

    Unemployment could fall further before wages pick up
    Labor market in pretty good shape
    Unemployment could fall further than in past before wages pick up
    Chance jobless rate could decline faster if participation steadies

    Expects employment to grow a bit above trend over next six months
    Vacancy rate at highest relative to size of the labor force
    Above average economic growth to gradually reduce labor spare capacity
    Expects this will lead to gradual increase in wages and inflation

    The State of the Labour Market

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