Australia Adds 76,300 June Jobs as Unemployment Holds at 4.4%
Updated
Updated · Bloomberg · Jul 23
Australia Adds 76,300 June Jobs as Unemployment Holds at 4.4%
3 articles · Updated · Bloomberg · Jul 23
Summary
76,300 jobs were added in June, more than five times economists’ estimates, extending Australia’s labor-market gains after May was revised up to 44,000.
The 4.4% unemployment rate held steady because participation increased, signaling labor supply kept pace even as hiring accelerated.
Australian dollar and bond yields rose after the data, with investors increasing bets that the Reserve Bank of Australia may raise interest rates again.
The strong report reinforces concerns that a resilient jobs market could keep inflation pressure elevated and complicate the RBA’s policy path.