RBA evaluates interest rates impact on Australian labor market, predicts slower labor demand.

The Australian labor market is under examination as the Reserve Bank of Australia (RBA) evaluates the impact of rising interest rates. Upcoming labor data is expected to show an unemployment rate of 4.2% with an increase of 30,000 jobs. Despite historically low unemployment, the RBA predicts slower labor demand relative to supply, aiming for better alignment with inflation targets. Meanwhile, Wall Street's indexes rose amid speculation of a larger Federal Reserve rate cut.

September 15, 2024
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