Free Trial

Labour Market Points To On Hold RBA

RBA

The RBA focusses on a number of particular labour market indicators and while some still show gradual easing in the labour market continuing, a number have stalled. In aggregate, they point to some stabilisation in Q1 from the previous gradual easing, and so the RBA’s stance is unlikely to change for now.

  • The Q1 NAB business survey was also released today and showed that the “availability of suitable labour as a severe output constraint” improved 2.4pp to be now 22pp from its most severe but labour shortages remain with the series still 9pp above the historical average.
Australia NAB labour output constraint %

Keep reading...Show less
212 words

To read the full story

Close

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.

The RBA focusses on a number of particular labour market indicators and while some still show gradual easing in the labour market continuing, a number have stalled. In aggregate, they point to some stabilisation in Q1 from the previous gradual easing, and so the RBA’s stance is unlikely to change for now.

  • The Q1 NAB business survey was also released today and showed that the “availability of suitable labour as a severe output constraint” improved 2.4pp to be now 22pp from its most severe but labour shortages remain with the series still 9pp above the historical average.
Australia NAB labour output constraint %

Keep reading...Show less