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16 Apr 2015
Australia: Employment expected to have increased solidly - ANZ
FXStreet (Bali) - Employment is expected to have increased solidly in March, notes the Economics Team at ANZ.
Key Quotes
"Employment is expected to have increased solidly in March (ANZ: +18k; mkt: +15k) following 15.6K net new jobs in February. Solid growth in job ads in recent months is one supporting factor."
"We continue to believe that New South Wales is due for an uptick in employment after a period of weakness which is at odds with other economic indicators coming out of the state (or at least Sydney)."
"The participation rate is expected to have remained unchanged at 64.6% – it has remained within a very tight range over the past 12 months."
"Overall, this yields a forecast stable unemployment rate of 6.3% (mkt: 6.3%). Stepping back, we continue to expect the unemployment rate to trend slowly higher amid ongoing belowaverage growth in the economy."
Key Quotes
"Employment is expected to have increased solidly in March (ANZ: +18k; mkt: +15k) following 15.6K net new jobs in February. Solid growth in job ads in recent months is one supporting factor."
"We continue to believe that New South Wales is due for an uptick in employment after a period of weakness which is at odds with other economic indicators coming out of the state (or at least Sydney)."
"The participation rate is expected to have remained unchanged at 64.6% – it has remained within a very tight range over the past 12 months."
"Overall, this yields a forecast stable unemployment rate of 6.3% (mkt: 6.3%). Stepping back, we continue to expect the unemployment rate to trend slowly higher amid ongoing belowaverage growth in the economy."