Following a surprisingly strong 2017, the Australian labour market has started 2018 on a firm footing and business surveys suggest that employment growth will continue to climb in the coming months. But the softening in GDP growth last year is consistent with a fairly sharp easing in jobs growth ahead. We suspect that the truth lies somewhere in the middle, with employment growth likely to remain above average for most of this year before slowing to around 1.5% by the end of the year.
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