5 Nov 2013
Flash: Strong jobs in Australia/NZ expected on Thursday - RBS
FXstreet.com (Barcelona) - Greg Gibbs, FX Strategist at RBS, expects strong jobs data in New Zealand and Australia on Thursday.
Key Quotes
"Both New Zealand and Australia release employment data this Thursday. New Zealand has two types of employment report. It has the employment survey of businesses that provides a measure of jobs growth (filled jobs and hours worked) and its Labour force survey which provides another measure of jobs growth and the unemployment rate. Both are quarterly data for Q3. Australia has a monthly Labour force survey for the month of October. As such the New Zealand data is more dated."
Australia has been showing a gradual weakening labour market for the last year with unemployment rising, labour growth weakening and participation slowing. We might expect this trend to continue. However, stability in job ads and stronger business surveys recently suggest it may begin to stabilise. We see the risk greater of an above expected result."
New Zealand has shown some improvement in its labour market trends in the first half of the year. It is possible that this trend gained momentum in Q3, given strong business surveys and steadily rising job ads. The market is expecting a stronger outcome, but we still see risk greater that it is also above expected."
Key Quotes
"Both New Zealand and Australia release employment data this Thursday. New Zealand has two types of employment report. It has the employment survey of businesses that provides a measure of jobs growth (filled jobs and hours worked) and its Labour force survey which provides another measure of jobs growth and the unemployment rate. Both are quarterly data for Q3. Australia has a monthly Labour force survey for the month of October. As such the New Zealand data is more dated."
Australia has been showing a gradual weakening labour market for the last year with unemployment rising, labour growth weakening and participation slowing. We might expect this trend to continue. However, stability in job ads and stronger business surveys recently suggest it may begin to stabilise. We see the risk greater of an above expected result."
New Zealand has shown some improvement in its labour market trends in the first half of the year. It is possible that this trend gained momentum in Q3, given strong business surveys and steadily rising job ads. The market is expecting a stronger outcome, but we still see risk greater that it is also above expected."