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NAB: Employment Indicators Remain Strong, Even After Slight Moderation


NAB note that “employment data are likely to again reflect the tight labour market backdrop. Employment indicators are consistent with some moderation from exceptional tightness, but remain strong and we pencil in a 35k employment gain and a one tenth fall in the unemployment rate back to 3.4%. With the unemployment rate in August at 3.46% unrounded, the hurdle for a larger fall in the unemployment rate to 3.3% is low.”

MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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