A slow slowdown
NAB Morning Call
00:00
The RBA's Impact on the Labor Market
There's a rising expectation for unemployment, the unemployment expectations index now at its highest since September 2020. So I mean, that's a sign perhaps that the RBA can see that their work is starting to have the impact. But let's look at what's happening in the UK because the labor market there certainly seems to be easing. The rise in employment was less than expected but it's the rise in wages, which is the real concern in those numbers. And you've seen rising for BOE peak move back above, move back towards 6.5.
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