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Australian jobs report recap – “remains in relatively solid health”

The data is here from earlier:

Westpac with the recap, in brief:

Australian labour market remains in
relatively solid health

  • employment growth slowing broadly in line with population growth
  • average hours holding steady
  • few signs that labour demand is
    capitulating to an extent that warrants concern
  • labour market
    conditions remain somewhat tight … this is not translating to stronger wage inflation pressures
  • On balance, today’s update will see the RBA continue to remain focused
    on the dynamics around underlying inflation.

***

Speaking of the RBA, we heard from Bullock earlier, not dovish:

***

AUD/USD update:

This article was written by Eamonn Sheridan at www.forexlive.com.

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