From BigGo Finance · BigGo Finance · · 50s
RBA Deputy Governor: Labor Market Easing Faster Than Expected
RBA Deputy Governor Christopher Kent says labor market tightness is easing faster than expected, with September unemployment at 4.7%.
In brief
RBA Deputy Governor Christopher Kent says labor market tightness is easing faster than expected, with September unemployment at 4.7%. RBA Deputy Governor Christopher Kent states labor market easing is faster than expected, with September unemployment at 4.7%. Originally reported by BigGo Finance.
Labor Market Tightness Easing
RBA Deputy Governor Christopher Kent says labor market tightness is easing faster than previously assumed.
September Unemployment Rate
September unemployment rose to 4.7%, a five-year high.
Market Reaction to Data
Markets lowered the probability of further rate hikes after the unemployment data.
Key Policy Question
Kent said the labor market easing could stem from weakening demand or rising labor costs.
Next Week's CPI Data
The quarterly Consumer Price Index will be a key input for the RBA's judgment next week.
The short version
RBA Deputy Governor Christopher Kent states labor market easing is faster than expected, with September unemployment at 4.7%.
