Australia’s ‘healthy’ jobs market gets monthly check-up
Australia’s labor market is estimated to remain healthy despite an expected increase in unemployment rate.
Labor figures to be released by the Australian Statistical Office on Thursday may show that the unemployed rate increased to 4.3 percent in August and reduced the decrease of a month to 0.1 percent to 0.1 percent.
JP Morgan, this will be compatible with the unemployment rate estimates of the Reserve Bank, that is, the Central Bank will have little effect on the cash rate issues, he said.
I Jarman, Tom Kennedy and Tom Ryan said in a research note, “At these levels, there is little scope for further deterioration in the tone/prediction of the bank without the change of pigeon.”
With the tendency of business growth, general population growth, the latest data paint a picture of a labor market in balance.
“Labor demand indicators were usually fixed at healthy levels last year,” he said.
2023 and 2024 strong employment increase is primarily directed with a rapid expansion of the health and care economy labor force, while the growth of these sectors has been flattened since the beginning of 2025, he said.
This provides more space for the private sector to recruit the wider labor market and then recruit without the risk of increasing inflation.
NAB’s economic team, “the labor market is close to balance and has not been a source of pressure on inflation last year,” he said.
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