Aussie Jobs Report Affirms RBA View on Job Creation -- Market Talk
15 September 2016, 02:55
0255 GMT [Dow Jones] The details of Australia's August employment report were mixed. Employment registered a modest decline in the month, down 3,900 which was weaker than the market consensus for a 15,000 gain. The unemployment rate also fell 0.1 pct pts to 5.6%, the lowest unemployment print since July 2013. The mixed results fit in with the RBA's view of modest rather than strong momentum in the jobs market. Deutsche Bank says its Labour Market tracker continues to point to slightly stronger employment outcomes. Still, "coupling this with the modest decline in the unemployment rate, we see little in these data that is likely to change the picture in front of the RBA," said Philip O'Donaghoe, economist at DB.(james.glynn@wsj.com; Twitter @JamesGlynnWSJ)
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September 14, 2016 22:55 ET (02:55 GMT)
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