© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: Italy Needs Primary Surplus Due Higher Rates-Visco

Spanish Elections A Blow To EU Fiscal Reform-Officials

MNI BRIEF: Japan May Consumer Confidence Rises For Third Month

EZ/UK Bond Supply Calendar: Spain to Issue Thursday

HICP Slows Less than Expected, Core Sees Minor Deceleration

MNI Projects CPI Cooling to +6.12% in Downside Surprise

MNI BRIEF: Trudeau Blames NIMBYs For National Housing Squeeze

(RPT)MNI INTERVIEW: Fed Needs Better QE Guardrails-Fed Adviser

MNI: Canada Resilient To US Debt Ceiling Clash- Freeland

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Jobs Expected To Rise Again Keeping Unemployment Rate Stable

AUSTRALIA DATA
Metals bulletHomepageCommoditiesEnergy BulletsBulletMarketsFixed Income NewsForeign Exchange News

In the May meeting minutes, the RBA noted that March employment was strong and that the “labour market remains tight”, thus there will be a lot of attention on Thursday’s April employment data. Analysts are looking for another rise but more moderate than in March with the unemployment rate unchanged at 3.5%.

  • Economists expect a 25k gain in April jobs after rising 53k in April. There is a range of estimates from unchanged to +40k with most centred around 20k - 30k. ANZ is at the low end forecasting 20k, with both NAB & CBA on consensus at +25k and Westpac at the upper end with +40k.
  • The unemployment rate is generally expected to be stable at 3.5% but there are quite a number of economists expecting it to rise to 3.6%. ANZ, NAB & Westpac all expect 3.5% with CBA forecasting 3.6%.
  • The participation rate is projected to be unchanged at 66.7%.
152 words

To read the full story

Why Subscribe to

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.

In the May meeting minutes, the RBA noted that March employment was strong and that the “labour market remains tight”, thus there will be a lot of attention on Thursday’s April employment data. Analysts are looking for another rise but more moderate than in March with the unemployment rate unchanged at 3.5%.

  • Economists expect a 25k gain in April jobs after rising 53k in April. There is a range of estimates from unchanged to +40k with most centred around 20k - 30k. ANZ is at the low end forecasting 20k, with both NAB & CBA on consensus at +25k and Westpac at the upper end with +40k.
  • The unemployment rate is generally expected to be stable at 3.5% but there are quite a number of economists expecting it to rise to 3.6%. ANZ, NAB & Westpac all expect 3.5% with CBA forecasting 3.6%.
  • The participation rate is projected to be unchanged at 66.7%.