Central Banks
RBA ‘Surprised’ by Limited Easing in Job Gauges, Hunter Says
- Says labor market is still tight relative to full employment
- Employment expected to grow at slower pace than population
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Australia’s central bank has been surprised by the “limited” easing this year in some key employment indicators, Assistant Governor Sarah Hunter said, reinforcing its view that the labor market is still operating above full capacity.
“Conditions in the labor market have eased since late 2022, but our assessment is that the labor market is still tight relative to full employment,” Hunter told an economic forum in Sydney on Wednesday. “We also expect employment to continue to increase, but at a slower pace than population growth.”