Rate hike expectations jump after jobs data comes in ‘stronger’ than expected

News Brief: Unemployment Rate Drops Ahead of RBA Meeting

Summary

Australia’s unemployment rate unexpectedly fell to 4.1% in December, strengthening the case for a potential interest rate hike by the Reserve Bank at its upcoming February meeting.

Key Points

  • Unemployment Rate: Dropped to 4.1% in December (seasonally adjusted), down from 4.3%.
  • Job Growth: Employment rose by 65,000 people, driven by a significant increase in full-time positions (55,000).
  • Market Shift: Probability of a February rate hike jumped to ~54% following the data release, from a previous market expectation of ~25%.
  • Key Driver: Increase in employment among younger people (aged 15-24) helped push the unemployment rate down.
  • Economist Views: Data was “significantly stronger” than expected, leading some to warn a rate hike may be needed to tame inflation.
  • Contrasting Data: SEEK job ads fell by 1.2% in December, pointing to some economic softness.
  • Next Watch: December quarterly inflation data (released Jan 31) will be the critical factor for the RBA’s February 3 decision.

新闻简报:失业率下降,澳储行议息会议在即

摘要

澳大利亚12月失业率意外降至4.1%,这增强了澳大利亚储备银行在即将到来的2月会议上可能加息的理由。

关键点

  • 失业率:经季节调整后,12月降至4.1%,低于11月的4.3%。
  • 就业增长:就业人数增加6.5万人,主要由全职岗位(5.5万)增长推动。
  • 市场预期转变:数据发布后,市场对2月加息的概率预期跃升至约54%,此前约为25%。
  • 关键因素:年轻人(15-24岁)就业增加是拉低失业率的部分原因。
  • 经济学家观点:数据”显著强于”预期,一些经济学家警告可能需要加息以抑制通胀。
  • 矛盾数据:SEEK招聘广告12月下降1.2%,表明经济存在疲软迹象。
  • 后续关注:12月季度通胀数据(1月31日发布)将是澳储行2月3日决定的关键因素。

Original Article Link: https://www.abc.net.au/news/2026-01-22/abs-jobs-unemployment-december-2025-figures/106256288

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