This is a strong headline jobs report, the unemployment rate dropped, employment change is twice what was expected, full time jobs surged. The RBA is increasingly worried about rising inflation. This report will do nothing to ease those fears. No need for the RBA to be thinking about a rate cut any time soon.
Unemployment Rate 4.3%
- expected 4.4%, prior 4.5%
Employment Change +42.2K
- expected +20K, prior +14.9K
Participation Rate 67.0%
- prior 67%
Part-Time Employment -13.1K
- prior +6.3K
Full-Time Employment +55.3K
- prior +8.7K
This article was written by Eamonn Sheridan at investinglive.com.