Updated
Updated · Bloomberg · May 21
Traders Cut RBA August Hike Bets as Unemployment Hits Highest Since November 2021
Updated
Updated · Bloomberg · May 21

Traders Cut RBA August Hike Bets as Unemployment Hits Highest Since November 2021

6 articles · Updated · Bloomberg · May 21
  • August rate-hike expectations for the Reserve Bank of Australia weakened after unemployment rose to its highest level since November 2021, signaling a faster cooling in the labor market.
  • Weaker-than-expected jobs data suggested the economy is performing worse than economists had believed, undermining the case for further tightening.
  • Layoffs have spread since the start of 2026, with companies citing AI adoption, restructuring and cost pressures.
  • The shift in market pricing points to a murkier economic outlook for Australia and greater doubt that the RBA will need to raise rates again soon.
As AI spurs layoffs and a skills gap, is Australia facing a 'growth recession' or a genuine workforce transformation?
One banker is on trial, but will the €150 billion tax scandal ever truly bring down the masterminds?