According to NAB Economist David de Garis, the Australian employment figures are pretty negative, but in line with the thematic the RBA applied when they cut rates last month.
Key Quotes
"It brings the numbers back to the trend that most people would have expected the labour market to portray. We know that job advertisements and some other leading indicators suggest that there is some employment growth, but that was overstated,
particularly in the December numbers, so we've got some payback from that."
"We've still got employment growth but not enough to cap the unemployment rate unfortunately. The headlines are obviously pretty negative and the market's reacted quickly to that so it's probably a bit of an overraction in the short term. But it's
very much the thematic the RBA applied when they cut rates.""
Key Quotes
"It brings the numbers back to the trend that most people would have expected the labour market to portray. We know that job advertisements and some other leading indicators suggest that there is some employment growth, but that was overstated,
particularly in the December numbers, so we've got some payback from that."
"We've still got employment growth but not enough to cap the unemployment rate unfortunately. The headlines are obviously pretty negative and the market's reacted quickly to that so it's probably a bit of an overraction in the short term. But it's
very much the thematic the RBA applied when they cut rates.""
