From www.rossgittins.com: Australia’s job market has shown remarkable strength, despite the economy emerging from a prolonged period of stagnation, with employment growth exceeding expectations at 9.5% compared to the typical rate.

This surge largely stems from an expanding “non-market” sector, particularly in care services due to demographic shifts and increased immigration contributing significantly to employment growth.

The Reserve Bank’s hesitance to cut interest rates is tied to concerns over tight labour market conditions, though there are indications the economy can meet the demand for workers without triggering inflation.