Australian job market contracted -3.9k in July, worse than expectation of 15.3k growth. Nonetheless, that’s primarily due to -23.2k contraction in part time jobs. There was an impressive 19.3k growth in full-time jobs. Unemployment rate also dropped -0.1% to 5.3% while participation rate also dropped -0.1% to 65.5%. Monthly hours worked rose 0.2%. Overall, the set of data is rather solid despite the headline miss.
Also from Australia, consumer inflation expectation rose to 4.0% in August, up from 3.9%.
