Australia: Labour market remains (very) tight – UOB – by pabspiovano Australia Employment Banks
“Australia’s seasonally adjusted unemployment rate fell to 3.5% in Feb, hovering around a 50-year low, from 3.7% in Jan, and against expectations of 3.6%. Seasonally adjusted employment increased by 64,600 people, from a revised fall of 10,900 people . Full-time employment increased by 74,900, while part-time employment fell by 10,300.”
“We are keeping our view of one more 25bps hike in Apr, which will take the OCR to 3.85%. Any changes to our forecasts will depend on incoming economic data. Financial stability concerns will also be a crucial factor given the current problems in the banking sectors in the US and Europe.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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