The Australian Bureau of Statistics has released the December Labor Force Survey.
Details:
- Employment in December: +50,000 (seasonally adjusted) (Reuters poll: +50,000).
- Unemployment rate: + 6.6% (seasonally adjusted) (Reuters poll: + 6.7%).
- Full time employment: + 35,700 (seasonally adjusted).
- Participation rate: + 66.2%, (seasonally adjusted) (Reuters poll: + 66.2%).
Description of the unemployment rate
The unemployment rate published by the Australian Bureau of Statistics is the number of unemployed divided by the working population. If the rate increases it indicates a decrease in the growth of the Australian job market. A rise in the rate indicates a weakening in economic activity. A result below expectations is bullish for the Australian dollar, while a result above is bearish.
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