Australia: Expect a modest employment print of +10k in September – RBC CM

Sue Trinh, Senior Currency Strategist at RBC Capital Markets, suggests that the lower Australian unemployment rate masks a more subdued labour market picture.

Key Quotes

“With trend monthly employment growth modest, job creation concentrated in part time jobs, and falling hours worked. We expect a modest employment print of +10k in September (cons: 15k), with the unemployment rate edging higher to 5.7% (cons: 5.7%).”