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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Last month employment surprised to the upside rising 32.2k and the unemployment rate falling 0.1pp to 3.4%. Analysts expect a further 19k increase in jobs with the unemployment rate stable at 3.4%. If correct, this would be a further tightening of the already strained labour market. Recently there have been gains in full-time employment at the expense of part-time suggesting that employers are dealing with shortages by offering more hours.
- The internet vacancies-to-unemployed ratio ticked up again in October and it remains elevated (see chart) suggesting that an imminent easing of the labour market is unlikely.
- According to Bloomberg, forecasts for November employment are in quite a broad range from 0k to 45k with most estimates between 11k and 20k but there are three analysts expecting 30k.
- The expectations for the unemployment rate are in a tight range of 3.3% to 3.5%. Quite a few analysts are expecting it to rise 0.1pp due to a predicted pickup in the participation rate to 66.6% from 66.5%.
Australia internet job vacancies % unemployed
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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