Labour market report from Australia for January 2024Check out that revision to the full time jobs number from last month. It was reported for December at +57K, and now revised to -109.4K. UGLY.This jobs report means the Reserve Bank of Australia rate hike cycle is definitely over. Rates won't be coming down any time soon, but further hikes - forget about it. Note that the participation rate dribbled lower. If it had stayed where it was in the previous report the unemployment rate would have been higher. ---Background to this:Australian jobs report due soon - jobs added but unemployment higher expected This article was written by Eamonn Sheridan at www.forexlive.com.
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