- Breaking: Australian Unployment Rate drops to 3.5 % in June vs. 3.6% expected
Market news
Breaking: Australian Unployment Rate drops to 3.5 % in June vs. 3.6% expected
The Australian Bureau of Statistics (ABS) reported on Thursday, the country’s Unemployment Rate came in at 3.5% in June, as against the expectations of 3.6% and the previous figure of 3.6%.
The number of employed people rose by 32.6K in June as compared to consensus estimates of 15K and the massive jump of 75.9K seen in the previous month.
Additional details revealed that Full-Time Employment increased by 39.3K in the reported month vs. May’s 61.7K rise. However, Part-Time Employment dropped by 6.7K when compared to a gain of 14.3K in May.
The Participation Rate edged lower to 66.8% in June vs. 66.9% expected and 66.9% previous.
Market reaction
AUD/USD caught a fresh bid on the Australian jobs data, rallying 0.75% on the day to trade at 0.6824, as of writing.
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer