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From Fairfax:
ANZ economist Dylan Eades:
The slowing in measured employment growth likely reflects somestatistical payback from the outsized gains recorded at the end of 2015. That said, the decline in the unemployment rate to 5.8 per cent suggests that underlying conditions in the labour market remain relatively healthy and will be sufficient to keep the RBA on the sidelines for the time being. At this stage, the trend improvement in the unemployment rate will be sufficient to keep the RBA on the sidelines for the time being and today’s data puts at risk our call for a May rate cut.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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