Australia’s job markets are in “solid shape” however there are signs of “cracks emerging” which will “start to see slower” jobs growth ahead, says AMP Capital Economist Diana Mousina.
Her comments come as Australia’s unemployment rate today came in at 3.5 per cent which was lower than economists expected.
“The participation rate is off its highs – the unemployment rate has clearly reached a bottom,” Ms Mousina told Englishheadline Business Editor Ross Greenwood.
“The … looking indicators of jobs growth are things like the NAB, Business Survey, and also some of the Indeed job vacancies – they’re all pointing down.
“The pace of jobs growth is likely to slow – it doesn’t mean the unemployment rate will go up in a straight line, but the best boom times for the labour market are over.
“Which would you expect given that we’ve had 350 basis points worth of rate rises.”