0614 GMT - Australia's job market is neither too tight, or too loose. To be sure, it is just right, according to Goldman Sachs. The labor market has arrived at a sweet spot, and is not contributing to inflation, even if indicators such as the unemployment rate remain tight relative to history, says Andrew Boak, Australia chief economist at GS. Wage pressures have already normalised with the jobless rate hovering around 4.1%, he says. The job-finding rate and job-switching rate, have both eased materially, Boak adds. GS places the non-accelerating inflation rate of unemployment at around 4.25%. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
May 29, 2025 02:14 ET (06:14 GMT)
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