Preview of the Australian Employment report (May) due at 0130 GMT on Thursday 13 June 2019

News

The Reserve Bank of
Australia is focused on developments in the labour market. They’ve
indcated they reckon a circa 4.5% unemployment rate is needed to get
inflation back to their target. Its above 5%.

For today:

Employment Change: K

Unemployment Rate: %

Full Time Employment Change: K

  • prior was -6.3K

Part Time Employment Change: K

  • prior was +34.7K

Participation Rate: %

Earlier previews:

This via ANZ:

  • We expect the federal election will have helped boost employment in May by 35k. This could push the unemployment rate back to 5.1% from 5.2% in April. It is unlikely that a strong result for the labour market in May would be carried forward, with leading indicators for employment deteriorating. 
  • Our Labour Market Indicator suggests a material slowdown in employment growth is approaching

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