Bank desk views on today's AU labour......>

AUSTRALIA: Bank desk views on today's AU labour market report:

- ANZ: We exp. a more moderate rise in employment in Sep. Labour market leading

indicators are more mixed: ANZ Job Ads have levelled out, but hiring intentions

in the business surveys still point to ongoing solid expansion in employment. We

look for a rise of 10k and an unchanged unemployment rate of 5.3%.

- NAB: We exp. a solid 30k rise in employment. Both internal data and the NAB

Survey Employment Index suggest that employment growth was strong in September.

Further, sample rotation impacts are exp. to have a +ve impact on employment.

- Westpac: Our Jobs Index & Westpac-MI Unemployment Expectations suggest that

the current +ve employment momentum can be maintained at least until year end.

Our forecast for a 15k rise in employment. The rise in participation has been

driven by NSW, and in particular, females in NSW where it is hitting record

highs. While we may be nearing the peak for participation in NSW, other states

have room to grow. As such, we expect participation to hold at 65.7%, leaving

the unemployment rate at 5.3%.