Australia will report July's employment first thing tomorrow in Sydney. It is a particularly volatile report. After creating a net 7.9k jobs in June, Australia is expected to have grown another 10k jobs in July. This understates the results. Some 38.4k full-time positions were created in June. Proportionate to the US population, it would as if non-farm payrolls jumped almost 540k. Some payback should be expected. In any event, the labor market improvement is not the main concern of the central bank