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June Jobs Data Highlight Of The Week

AUSTRALIA

The focus of this week will be the June jobs data. While there are signs of easing they have been limited and the labour market remains tight. They can be volatile.

  • Employment prints on Thursday and another moderate rise of 20k is expected after +39.7k in May with the unemployment rate forecast to rise 0.1pp to 4.1%. The RBA also monitors the underemployment and youth unemployment rates and hours worked.
  • The June Westpac leading index is released on Wednesday. The 6-month change, which leads detrended growth by 3 to 9 months, remains negative but has improved over the last year.
  • The RBA’s Head of Economic Research Simon participates in a panel at Macquarie University at 1800 AEST on Wednesday. The RBA Bulletin is published on Thursday.
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