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?
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