Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The Australian unemployment rate held steady at 4.0% y/y in June, while employment gained 50,176, higher than the estimated 20,000 jobs, data from the Australian Bureau of Statistics showed.
The seasonally adjusted rate printed at 4.1%, in line with expectations.
"The participation rate in June was only 0.1 percentage point lower than the historical high of 67.0 per cent in November 2023,” noted Bjorn Jarvis, head of labour statistics at the ABS.
“The employment-to-population ratio rose by 0.1 pp to 64.2%, which was also close to its historical high of 64.4% in November 2023. The employment-to-population ratio and participation rate both continue to be near their 2023 highs. This, along with the continued high level of job vacancies, suggests the labour market remains relatively tight, despite the unemployment rate being above 4.0% since April.”
The RBA board discussed further hikes at its most recent meeting in June. (See MNI RBA WATCH: Hikes Discussed As Bullock Steers Narrow Path)
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.