It’s shaping up as a moment of truth for the all-important labour market this week, particularly after Friday’s dramatic slide in US employment data (see below).
Economists are widely expecting unemployment to have ticked up from 5.1 percent in the first quarter to 5.3 percent in the June quarter when the latest data is released on Wednesday August 6.
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Andrew Patterson is Newsroom’s Markets Editor and has worked for decades as a financial journalist, radio presenter and editor with Australia’s ABC, Radio Live and NBR.
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