Australian Labor Market Strengthens in June

Australia’s labor market strengthened for a fourth month in June led by a remarkable comeback in full-time jobs – an upbeat outcome that could bring nearer the day when the country’s central bank starts considering a rate hike.

The data will offer much-needed relief to the Reserve Bank of Australia (RBA) which has been fretting over a “mixed” jobs performance while leaving interest rates at a record-low 1.50 percent since last August.

Thursday’s data from the Australia Bureau of Statistics (ABS) showed the unemployment rate steadied at 5.6 percent as 14,000 new jobs were added.

Reuters

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