The Australian Labor Market Survey for June has come as follows:
- Job: +29,100 (expected: +30,000)
- Unemployment rate: + 4.9% (expected: + 5.0%) (AUD bullish).
- Full time employment: +51.600
- Participation rate: + 66.2% (expected: + 66.3%)
Regarding June weekly payrolls, these have confirmed a recovery from the May locks in Victoria, and the workforce survey was conducted too early to pick up the NSW shutdown.
The recovery in employment has also seen participation rise to an all-time high.
About job change
The change in employment published by the Australian Bureau of Statistics is an estimate of the number of unemployed in Australia. In general, an increase in this indicator has positive implications for consumer spending, which stimulates economic growth. A result above expectations is bullish for the Australian dollar, while a result below the market consensus is bearish.
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