Weak U.S Employment

U.S Non-farm payrolls for September came in worse than expected on Friday night local time. Private sector jobs growth was 9k short of the median forecasts while unemployment remained unchanged at 9.6%. Local Government employment dropped by 76k, as budget pressures continue to tighten spending. This data merely confirms how the U.S economy is slowly moving along, and may be another catalyst for further Quantitative Easing.

On the local front this week, the Nab business survey for September will be released Tuesday and Westpac Consumer Confidence on Wednesday.