The Australian jobs report is here:
Check out that post for why employment can drop and so too the jobless rate.
I’m already seeing analysts dismissing the job losses:
- labour market remains incredibly tight
- there are more job vacancies than people unemployed
- a 48 year low for the unemployment rate is great
And … they are not wrong. Yeah, it would have been a better report with jobs added but that jobless rate headline is going to be screamed in the headlines. It’s a good ‘un.
AUD/USD down a few tics: