ONLY CHARTS #544
Aus labour market, Aus household inflation expectations, NZ housing prices
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Australia’s labour market report for March was OK, with the unemployment rate remaining at 4.3%. While employment growth was a bit softer than underlying civilian population growth in the month, it was relatively strong in Q1 as a whole. The unemployment rate remains below the RBA’s NAIRU estimate.
1. Australia’s unemployment rate was little changed at 4.3% in March (in unrounded terms it fell slightly from 4.28% to 4.26%)…
…and most evidence point to tight conditions overall.
2. The unemployment rate in Q1 averaged 4.2% which was a little below the RBA’s February SMP forecast of circa 4.25%.
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