Reported 5 months ago
In June, Australian employment exceeded expectations by a large margin, but the unemployment rate inched higher as more individuals actively sought employment. This mixed report led to speculation about a potential interest rate hike by the Reserve Bank of Australia in August. Market data and forecasts were affected, with an uptick in three-year bond yields and a slight rise in the Australian dollar. While job creation was strong, the unemployment rate increased to 4.1%. Economists are closely monitoring the labor market's performance to determine the need for future rate adjustments.
Source: YAHOO