The Australian Bureau of Statistics’ unemployment rate release has exceeded expectations, as has employment and full-time employment data, which are as follows:
- Change in employment: +32,200 (versus +15,000 expected).
- Unemployment rate: 3.4% (versus 3.6% expected).
- Full-time employment: +47.100 s/adj.
- Participation rate: +66.5%, s/adj (Reuters poll: +66.6%).
On Australian employment data
The Australian Bureau of Statistics (ABS) publishes an overview of trends in the Australian labor market, with the unemployment rate a closely watched indicator. It is released about 15 days after the end of the month and sheds light on general economic conditions, as it is highly correlated with consumer spending and inflation. Despite the lagging nature of the indicator, it affects interest rate decisions by the Reserve Bank of Australia (RBA), in turn, moving the Australian dollar. The bullish number tends to be positive for the Australian dollar.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
