Australia’s labor force unexpectedly lost 300 jobs in July, data showed on Thursday, much worse than the Reuters forecast of an addition of 12,000 jobs.
The employment fall was made up of a rise of 14,500 in full-time employment, while part-time employment fell 14,800. Unemployment rate also unexpectedly rose to 6.4 percent, versus the 6.1 percent consensus.
Australian shares widened their losses to 0.3 percent on the news, hitting a new three-week low, while the Australian dollar weakened 0.5 percent against the greenback.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.