The analysis team Rabobank has analyzed Australia's March employment data and its implications for the Reserve Bank of Australia's (RBA) interest rate outlook.
Featured Statements
“Australian labor market data released today showed some mean reversion in employment numbers.”
“According to ABS, Australia lost 6,600 jobs in Marchafter having earned 117,600 in February”.
“Rabobank expected 10,000 job losses – which puts us closer to the range among forecasters – but despite a one point rise, lThe unemployment rate of 3.8% remained below our forecast (and below market consensus) due to a drop in participation.”
“Overall, it was another good result for the Australian dollar labor market that does nothing for the view that Australia is imminently cutting rates“
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
