Westpac–ACCI labour market composite points moderate job growth

The Westpac-ACCI Labour Market Composite index moved higher in the March quarter, increasing to 51.8 from 50.1 in the previous quarter. The latest result is unchanged from a year ago.

The Labour Market Composite has proven itself to be a reliable indicator of total jobs growth across the economy. This highlights the key linkages between manufacturing and the household sector.

Westpac notes as follows on Thursday..

• In 2014, official data reports that jobs grew by 1.3% in the year to the December quarter 2014, up from a low of 0.7% at the start of the year. This path tracks the Composite.
  
  
• The survey points to moderate jobs growth during 2015, albeit with the risk of
• some volatility.