Australian ANZ Jobs for July -1.1% m/m (before 0.4%)

ANZ Comments:

  • Australian job vacancies fell 1.1% m/m in July.
  • Even if the growth in labor demand starts to slow, we don’t think this will immediately translate into an increase in underutilization.
  • In fact, we now expect unemployment to fall below 3% by the start of 2023.

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