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Australian Labor Market Strengthens in June

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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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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

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