AU Employment Change

With all the turmoil, excitement, and even apprehension surrounding key developments of late it might be welcome that this week is likely to be a little more boring at least in terms of calendar-based macro risks. It’s hard not for it to be so when compared to recent developments including the US election, decisions by multiple central banks, significant macro data risk, earnings season, geopolitical developments and the resulting market volatility. The week’s main focal points will include a US inflation update, the possibility we ...

Australia’s powerful stretch of hiring extended into September and the unemployment rate held steady, prompting a rise in the currency as traders scaled back bets on the Reserve Bank’s first interest-rate cut. Employment rose 64,100 — driven by full-time jobs — versus a forecast 25,000 gain, Australian Bureau of Statistics data showed Thursday. The jobless rate was unchanged at a downwardly revised 4.1%. The Australian dollar rose as much as 0.4% to 66.91 US cents and the yield on policy-sensitive three-year government bonds jumped ...

Today’s news that an extra 47,500 Australians found work in August while the unemployment rate held steady at 4.2% is a sign of success for both the government and Reserve Bank. It’s a sign of success in dealing with the difficult task of bringing inflation down without too much economic damage. Then Reserve Bank Governor Philip Lowe, in a speech shortly before he handed over the reins to Michele Bullock, said that success in this task would require navigating a narrow path. To keep to the narrow path would mean inflation returns to ...

The Australian Bureau of Statistics (ABS) will release the monthly employment report at 1:30 GMT on Thursday. The country is expected to have added 25K new positions in August, while the Unemployment Rate is foreseen to remain steady at 4.2%. The Australian Dollar (AUD) heads into the event with a firmer tone against its United States (US) rival, with AUD/USD hovering around the 06770 level. The ABS reports Employment Change separating full-time from part-time positions. According to its own definitions, full-time jobs imply working ...

There are fresh warnings that Australia's economy is on a path toward a recession. Australians who have hit the pavement in search of a job recently might have found it tough going, as bosses preference those already on staff for new roles. "Companies are focusing, at the moment, more on their retention strategy than attraction," Robert Half director Nicole Gorton said. "So if they have the opportunity to … upskill because there's an opportunity gap with somebody and they can plug that with the existing staff, they will do that." ...