Labour market holding: Buys more wait time for RBA
* Australia’s unemployment rate trend steady at 5¾%
* Employment growth easing down, to +0.8% y/y
* Participation rate eases further; lowest since Oct ‘06
* Report a positive for confidence; leading labour demand indicators have also been positive of late
* RBA now on hold until 2014; still one more easing expected in this cycle
* This week: RBA Minutes, Housing Finance and NAB Q3 Business Survey due; focus on China GDP and September monthly reports at week’s end after Chinese inflation today
Read the full report: Market Research
NAB