Analysts at TD Securities suggest that after their “flat” February print materialized (+5k), they are looking for a ‘trend’ employment increase of +17k in March for the Australian economy.
Key Quotes
‘Combined job ads point to ongoing 2 ¼%/y employment growth. When +17k/m is combined with a likely unchanged participation rate of 65.6%, the unemployment rate could pop back to 5.0%, in line with the RBA projection of 5% over 2019 (mkt 5%).”
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