ANZ Research – Quarter Labour Market Preview, Jun 2025

The main theme is the analysis of the labor market condition for the second quarter of 2025.

Key findings include an expected increase in the unemployment rate to 5.3% in the second quarter, higher than previous forecasts. Employment growth is projected to decline from +0.1% to -0.1% on a quarterly basis. The labor market remains in a disinflationary state, and conditions suggest further wage inflation reduction. Slowing economic growth may lead to further employment declines in the coming quarters.