US jobless claims fall, so did Aussie jobs
A fall in jobless claims in the US shows the labour market is still tight but NAB’s Gavin Friend says the numbers are volatile, as with Aussie employment numbers. Neither set of numbers will change the trajectory of central banks.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 19th January 2024
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US bond yields continue to push higher as the expectation for delayed cuts mounts. The weekly jobless claims will help the Fed’s case here, with a surprise fall showing how tight the labour market still is. But these are volatile numbers, says NAB’s Gavin Friend, particularly over the holiday period. The same applies to the surprise drop in Australian employment numbers yesterday, although the trend is still showing a rise and there’s nothing to change the RBA’s path for now. Plus, peace hopes for the Middle east and a preview of our first Weekend edition of 2024.
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