Australian jobs report due soon – preview: Modest gain in employment expected

<p>I posted on the jobs report due from Australia at 11.30 am Sydney time (0030 GMT and 1930 US Eastern time) here:</p><ul><li><a href="https://www.forexlive.com/news/asian-economic-calendar-key-events-and-consensus-expectations-for-18-january-2024-20240117/" target="_blank" rel="follow" data-article-link="true">Asian Economic Calendar: Key Events and Consensus Expectations for 18 January 2024</a></li></ul><p>Preview comments via CBA:</p><ul><li>We expect a modest gain in employment in December of +20k after a large 61.5k lift in November. </li><li>Trend employment growth has slowed, as have forward looking indicators of labour demand. </li><li>We expect the participation rate to remain unchanged at a record high of 67.2% which would see the unemployment rate remain steady at 3.9%.</li></ul><p>Scotia:</p><ul><li>Australia’s job market has been on fire but will it continue? An uninterrupted string of job gains dating back to May has driven almost 300k more jobs. </li><li>The effect has driven the labour force participation rate to a record high of 67.2% while keeping the unemployment rate around the record low range of 3.5–3.9%. </li><li>Wednesday’s tally for December is forecast to keep the momentum going with a mild gain in employment.</li></ul>

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