The Commonwealth Bank's Head of Australian Economics Gareth Aird says the latest jobs figures look like an anomaly, given the economy is slowing. Subscribe: ab.co/1svxLVE Read more here: www.abc.net.au/news/2024-03-2...
He wants to see more data to be sure of what's going on, but still thinks the unemployment rate will end the year around 4.5 per cent.
If the jobless rate is on a firm upward trend, inflation comes back to target and economic growth is weak, Mr Aird expects the Reserve Bank will begin cutting interest rates in September and will shave 1.5 percentage points off the cash rate over 12 months.
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