Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Fundamental Analysis
Focus for 14 JAN 2010: Australian December Labour Force Survey
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="imperialfxonline, post: 8309, member: 3964"] [B]Focus for 14 JAN 2010: Australian employment change and unemployment rate (December)[/B] Around 10,000 jobs to be added after 3 months of strong gains Unemployment rate to tick higher to 5.8% Job advertisements rise by most since May 2007 The Australian Bureau of Statistics will release the results of its monthly Labour Force Survey for December on Thursday 14th January at 00:30GMT with the median forecast of economists polled pointing to around 10,000 jobs being added, which is somewhat lower than the previous three months, which showed surprisingly high numbers of 40,500 and 31,200 for September and November respectively. November’s figure of 31,200 beat the market’s estimate of a gain of 5,300 as the global economic recovery kicked in during the second half of 2009 (employment change fluctuated between gains and losses for the period from September 2008 to September 2009) and Australia benefited from the rise in commodity prices such as copper and gold. Although the unemployment rate dipped to 5.7% in November instead of rising to 5.9% as economists had expected, the improving job market conditions suggest that more people will return to the labour force in December and this will be reflected in the unemployment rate ticking higher to 5.8% last month. Australia’s unemployment rate has steadied in a range of 5.5-5.8% since March 2009, with the 5.8% rate being the highest seen since mid-2003. Data released by Australia and New Zealand Banking Group (ANZ) on Monday showed a month-on-month gain of 6% in job advertisements in December (largest increase since May 2007), led by a rise of 11.6% in major metropolitan newspapers. This adds up to a brighter outlook for the Australian jobs market even though the unemployment rate may not yet have peaked (similar to the situation in the U.S.). The Australian dollar has been rising steadily since the end of December (helped in part by the Reserve Bank of Australia’s 3 rate hikes) and is now within 1% of its 15-month high of 0.9406 seen in November. The extended rally from 0.8735 looks to be in need of a correction and an employment change figure that matches analysts’ estimates may be the catalyst for some profit taking, especially in the Asian session, as would a higher-than-expected rise in the unemployment rate. A gain of 25,000 jobs or more could encourage short-term buyers who would then be targeting option-related stops at 0.9400/10 and 0.9500. Imperialfxonline For comments and feedback, please email [EMAIL="research@imperialfxonline.com"]research@imperialfxonline.com[/EMAIL] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…