I posted earlier on what's coming up, but, to save you a click:
0130GMT - Australia - Employment data for April. This would be a key focus today except for US politics taking centre stage. But maybe if they can all STFU for once over there this can take the limelight!The jobs report from Australia is a bit of a monthly lottery, but for today:
- Employment Change: expected +5K, prior +60.9K
- Unemployment Rate: expected 5.9%, prior 5.9% 9edging higher, jobs growth has been slow)
- Full Time Employment Change, prior was 74.5K
- Part Time Employment Change, prior was -13.6K
- Participation Rate, expected is 64.7%, prior was 64.8%
(Oh, and 0130GMT is also notable for more ... China property prices for April & Reserve Bank of Australia transaction data for April ... but back to the jobs data ...)
You might see some reports on what's expected for wages growth ....
Well, just between you and me (don't tell anyone, K?) I have some solid gold inside info on this (at least until any revision). Its not actually a leak, so I won't have to go to jail. The wages growth data came out yesterday:
Australian Bureau of Statistics with wages data for the first 3 months of 2017
0.5% q/q
- expected +0.5% q/q, prior +0.5%
1.9% y/y
- expected +1.9% y/y, prior +1.9%
(more on the data here at the link, including a graph of y/y wage growth (you'll need a sick bag))
So, back to today.
In March employment had a very strong jump,
- up 60.9K
- and up 74.5K for full-time positions
- Hours worked were higher also (up 0.2%)
For today, expectations are much lower. Part of the explanation for the big jump last month was survey rotation. And part of the explanation is in the substantial volatility of this indicator.
I'll get some more previews up soon.
