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.
Australia’s unemployment rate held steady at 3.5% in June, while the underemployment rate remained at 6.4%, according to figures released by the Australian Bureau of Statistics Thursday.
The Reserve Bank of Australia will monitor the strength of the Australian labour market closely, which currently sits 1 pp above its 4.5% Non-Accelerating Inflation Rate of Unemployment estimate and 2025 target. (See MNI POLICY: RBA Believes Unemployment Likely Below NAIRU)
“The rise in employment in June saw the employment-to-population ratio remain at a record high 64.5%, reflecting a tight labour market in which employment has recently increased in line with population growth," noted Bjorn Jarvis, head of labour statistics at the ABS.
The RBA will also focus on the June quarter’s CPI print due July 26 as it gears for its next board meeting on August 1.
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.