More Data Pushing Rate Cuts Out, as Labour Markets Hold Up (Again)!

On Thursday Australia’s jobless rate rose to 3.8 per cent in March, which was broadly in line with the market’s expectations, and ahead of crucial March quarter inflation data due next Wednesday. The economy added 27,900 full-time roles and lost 34,500 part-time jobs in the month. This very slight rise in the unemployment figure to 3.8 per cent last month showed February’s unexpected drop to 3.7 per cent was not an aberration after all. It’s further evidence of the continued strong state of the Australian labour market. So, forget rate cuts for now, as this can only make it harder […]