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12 Mar 2015
Australian unemployment retreats from 12-year high – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team share the key developments in the Australian market, highlighting that the unemployment rate fell from 6.4% to 6.3%, retreating from the 12-year high, with analysts predicting that the rate is yet to peak.
Key Quotes
“Australia Feb Employment change: 15.6k v +15.0ke; Unemployment rate: 6.3% v 6.4%e; Participation rate 64.6% (4-month low) v 64.8%e”
“Australia Mar Consumer inflation expectation: 3.2% v 4.0% prior”
“In Australia, employment data were also surprisingly refreshing on balance. Unemployment rate fell to 6.3% from 12-year low of 6.4%, even as participation rate fell to a 4-month low. Employment change was in line with consensus, but hours worked component rose to its highest level since June 2014.”
“After the release JPMorgan and BoA/ML economists reiterated their view that jobless rate is yet to peak, forecasting 6.5% and 6.75% tops respectively, while CommSec cheered the rising hourly volume indicative of businesses working the existing staff more intensively in calling the top in unemployment.”
Key Quotes
“Australia Feb Employment change: 15.6k v +15.0ke; Unemployment rate: 6.3% v 6.4%e; Participation rate 64.6% (4-month low) v 64.8%e”
“Australia Mar Consumer inflation expectation: 3.2% v 4.0% prior”
“In Australia, employment data were also surprisingly refreshing on balance. Unemployment rate fell to 6.3% from 12-year low of 6.4%, even as participation rate fell to a 4-month low. Employment change was in line with consensus, but hours worked component rose to its highest level since June 2014.”
“After the release JPMorgan and BoA/ML economists reiterated their view that jobless rate is yet to peak, forecasting 6.5% and 6.75% tops respectively, while CommSec cheered the rising hourly volume indicative of businesses working the existing staff more intensively in calling the top in unemployment.”