Job numbers have been booming in Australia. The RBA mandate includes full employment and on this measure it is, or very close at least. Inflation is higher also. Slow wage growth has been cited by the Bank as a reason to be very patient with policy change.
ANZ remarks:
- Job Ads ... in January rose steeply on a weekly basis through the month, as is usual following the Christmas/New Year low.
- This was despite Omicron, reflecting the resilience in labour demand.
