Soft Jobs

NAB Morning Call · Aug 9, 2026 · 16m

Monday 10th August 2026NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABUS payrolls data surprised most on Friday with a weaker than expected number of jobs, but also a fall in the unemployment rate. Phil asks NAB’s Rodrigo Catril whether US immigration policies are part of the picture here. Rodrigo also suggests that lower unemployment and weaker wage growth gives the Fed more time to decide on policy changes, with two CPI prints before the next meeting, the first of those this week. Oil meanwhile remains range bound as the future in the Gulf…