Australian jobs report due today - preview and implications for the RBA

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Australian jobs report due today - preview and implications for the RBA

The Australian Labour market report for June is due at 1130 Sydney time on Thursday, 18 July 2024:

• 0130 GMT
• 2130 US Eastern time (Wednesday evening)

• This snapshot from the ForexLive economic data calendar, access it here.
• The times in the left-most column are GMT.
• The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

An in-brief preview from Commonwealth Bank of Australia, bolding is mine:

• While always important, the outcome will be watched closely  in conjunction with the Q2 24 CPI ahead of the August RBA Board Meeting.
• We expect a step down in the size  of employment gains in June to +20k, following gains of ~40k in both May and April.
• As a result the unemployment rate would lift  to 4.1%  with the participation rate unchanged at 66.8%.
• A  sufficiently  strong report would see us delay our November start date  to the RBA easing cycle. And depending on the outcome of the Q2 24 CPI would lift the risk of a near term rate hike.

***

The CPI report is due on July 31 at the same time of day as this report.

The August RBA meeting is on the 5th and 6th.

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Australian jobs report due today - preview and implications for the RBA

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