Australia: Data to confirm trend employment growth was strong over 2018 - NAB

Analysts at National Australian Bank (NAB) offers a detailed preview of what to expect from Thursday’s Australian labor market report due to be released at 0030 GMT.

Key Quotes:

“Labour force data continues to be an important positive signal on the economy.

Recent concerns around retail sales have likely shifted the RBA's focus towards consumer spending.

Barring any sharp changes to the unemployment rate in the data next week, the RBA is on track for its expectation of a 5% average unemployment rate in the December quarter. As such, the Bank will likely continue to expect a gradual tightening in the labor market.

Expect data to confirm trend employment growth was strong over 2018.

There is some slight risk of a 5% u/u result.”