Let's take a look at some of the economist/analyst responses to the Australian employment data

(Data is here)

(My intemperate comments on the data are in here)

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Added ... a bit more data from the report:

  • Total hours worked fell 0.2% m/m
  • Employment to population ratio +0.1% (s.a.)

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AMP - Shane Oliver:

  • Employment much stronger than expected but unemployment, participation up
  • More labour market slack

St George:

  • Data supports view that the laboor market is on solid footing
  • Probably lessening the chance of another rate cut

NAB:

  • Something for everyone in this release
  • Doesn't change the overall view that there's plenty of spare capacity in the labour market and the economy in general
  • We still see the RBA holding steady for some time to come
  • The urgency to act on rates has waned recently

RBC:

  • Unemployment rate has crept up a tiny bit higher
  • But we don't want to read too much in the data because it has become less reliable in the past year
  • Employment looks a bit firmer than what the majority of indicators have been suggesting
  • For the RBA, a rate above 6 percent still implies a fair amount of slack in the economy and rates need to be accommodative
  • Whether they need to be lowered again depends on what labour demand looks like ahead
  • We think it will be pretty soft
  • Another cut in the fourth quarter and another by mid-2016

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there will be more to come