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1.Market Observations, 8.Was Sticky

14 June 2019 (AFR) – Jobs data puts heat on RBA for more cuts

(14 June 2019, AFR, p4, Matthew Cranston, Reporter)

Unemployment rate v employment growth (ANZ, AFR)

Unemployment rate v employment growth (ANZ, AFR)

‘The highest growth rate in jobs for more than a year, rebounding iron ore prices and the ASX-200 near an 11-year high has not changed the financial market’s view that the Reserve Bank will have to cut rates again next month. The economy created 42,300 new jobs last month – outstripping economists’ expectations of a gain of 16,000 new positions, but it was not enough to change the unemployment rate of 5.2 per cent, pushing the chance of another 0.25 percentage point rate cut next month to more than 65 per cent.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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