Employment was a touch stronger than the market expected in May up 1,100 (consensus -10,000) although April was revised to +45,000 from +50,100. Employment growth averaging 23,000 a month through the first two months of Q2 is reasonably strong. The unemployment rate edged down to 5.5% from 5.6% (consensus 5.6%) mostly because of a one notch fall in the participation rate to 65.2%. No really significant moves among the states with employment down a little in NSW but up in Victoria. The labour force data follows a 4.7% lift in consumer sentiment in June and April housing finance up 0.8%, the fourth consecutive monthly rise. All told the data this week is consistent with the economy growing at, or better than in Q1. No urgency for the RBA to cut the cash rate any further near term.