An update on the state of the jobs market will help the Reserve Bank of Australia build out its picture of the economy before the next interest rate decision in August.
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The June labour force readout from the Australian Bureau of Statistics, due on Thursday, follows a long run of consistently strong numbers despite higher interest rates working to slow the economy.
Yet the jobs market has been weakening gradually, with the unemployment rate at four per cent in May, up from the lows of 3.5 per cent reached last year and in 2022.
Other indicators point to weakening, including job ad volumes, which recorded a 1.5 per cent month-on-month fall in June, according to employment marketplace Seek.
Year-on-year, ad volumes were down 17.1 per cent.
The number of applications for each job on the employment platform has also been climbing.
Stronger-than-expected monthly inflation data had stoked fears of another interest rate hike, though the more likely scenario remains rates staying high for longer.
The RBA is waiting for the more-comprehensive June quarter inflation statistics - due later this month - though the state of the labour market will also inform the August decision on rates.
Australian Associated Press
