17 Mar 2016
What to expect from Australia's employment report? - Westpac
In today's Australian employment report, Westpac is expecting a gain of 10k while market median is 13.5k (range 3.2k to 25k).
Key quotes
"Australia Feb employment is due at 11:30am Syd/8:30am Sing/HK. Westpac is expecting a gain of 10k while market median is 13.5k (range 3.2k to 25k). Various other indicators suggest that Australia has a robust labour market outside WA."
"So any doubts we have about the survey are more about magnitude rather than direction. Jan’s -7.9k was expected given recent strength. +10k in Feb will see the annual pace ease to 2.3% y/y from 2.5% y/y. Participation in Jan was a marginal rise to 65.18% and we are expecting another gain to 65.20%. This will bring the unemployment rate up to 6.1% (consensus 6.0%)."
Key quotes
"Australia Feb employment is due at 11:30am Syd/8:30am Sing/HK. Westpac is expecting a gain of 10k while market median is 13.5k (range 3.2k to 25k). Various other indicators suggest that Australia has a robust labour market outside WA."
"So any doubts we have about the survey are more about magnitude rather than direction. Jan’s -7.9k was expected given recent strength. +10k in Feb will see the annual pace ease to 2.3% y/y from 2.5% y/y. Participation in Jan was a marginal rise to 65.18% and we are expecting another gain to 65.20%. This will bring the unemployment rate up to 6.1% (consensus 6.0%)."