Australia’s employment to be down 20k in July relative to June – RBC CM

Research Team at RBC Capital Markets, expects the Australia’s level of employment to be down 20k in July relative to June.

Key Quotes

“This reflects an unwind of the unusually strong outturns recorded in H2’15, with the parts of the sample which rotated into the survey in those months falling out in June and July surveys this year. We also look for a 0.1ppt dip in the participation rate to 64.8%, which would allow the unemployment rate to remain steady at 5.8%.”