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CBA: The Labour Market Remains Very Tight

AUSTRALIA

Ahead of today’s labour market report CBA note that “the labour market remains very tight. Whilst generally a very positive development, labour shortages persist as the supply and demand of labour is mismatched. The return of overseas migration will, in time, help with these issues, as will slowing demand. Job vacancies are down, but remain elevated meaning there is still plenty of demand for workers. After the outsized jump in employment of 64k in November, we expect a more subdued +25K increase for December. We view see the participation rate staying elevated for now and for the unemployment rate to remain steady at 3.4%.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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