Daily Flows & Insights – Volatile Month for Labour Market Survey

Daily Flows

  • A BBB bank is continuing to offer leading rates in the market to attract term deposits.
  • Flexibility in the 6 months is available as this is their preferred term.
  • NCD activity has been quiet, with rolls going through at +45 for 3 months.


Volatile Month for Labour Market Survey

  • Employment ticked up by 65K with part time employment driven the majority of this (62K part time).
  • The participation and unemployment rate remained steady (participation rate 67%, unemployment 3.7%)
  • This is a significant rebound from last months seasonally driven low print.
  • The Labour Force Survey tends to be quite a volatile print.
  • Looking at the latest 3 month average, the employment rate remains stable at 30K.
  • The average rate is in line with the broader view, the labour market remains tight.
  • Gradual increases in unemployment are expected which will help calm the RBAs nerves as it may dampen labour cost influences on inflation.
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Curve Team
Jack Pedersen