Australian Full Time Employment Change (Aug) -6.3K (Prev. 16.3K)

The split that matters is full-time versus part-time: headline employment can hold up on part-time hiring while full-time rolls over, and the RBA has historically leaned toward the full-time and hours-worked detail as the cleaner read on underlying demand. The transmission runs through front-end rates and the AUD via the expected RBA path, and prior episodes of soft full-time prints have tended to be faded when the unemployment rate and participation hold steady, but to stick when confirmed across consecutive releases. The unemployment rate, underemployment and hours worked in the same release carry the real signal here. The follow-ons are the next labour force survey, RBA rhetoric around labour-market slack, and quarterly wage data, which the bank has cited repeatedly in framing its policy stance.