Data post is here:
- Australia November unemployment rate 3.9% (vs. 4.2% expected)… it took twice thatIt took me a few minutes to insert that 3.9 figure into the headline and then hit 'publish'… I didn't expect such a strong surprise (yeah, I know… if I expected it it wouldn't have been a surprise!).
- Strong jump in full-time jobs.
- Unemployment rate returns below 4%
- however, participation declined slightly
Oz Dollar liked:
The response from analysts is that this report today reduces the prospects for a February rate cut from the Reserve Bank of Australia. Which is probably fair, but the Bank's focus is on inflation, the jobs market has not been declining so these labor market reports have not focused too much on them – they would have been if earnings were not growing.
This article was written by Eamonn Sheridan at www.forexlive.com.
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