The Australian Bureau of Statistics has released its June Labour Force report and it’s a decent report, just ahead of consensus:
- Employment increased 15,900 to 11,578,200. Full-time employment decreased 3,800 to 8,062,500 and part-time employment increased 19,700 to 3,515,700.
- Unemployment increased 20,300 to 741,700. The number of unemployed persons looking for full-time work increased 10,000 to 543,000 and the number of unemployed persons only looking for part-time work increased 10,300 to 198,600.
- The unemployment rate increased 0.1 pts to 6.0%.
- Participation rate increased 0.1 pts to 64.7%.
- Aggregate monthly hours worked increased 15.1 million hours (0.9%) to 1 ,629.1 million hours.
The algos saw a good number and added 20 pips to the dollar. Humans will see it as much more mixed and fade it.
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Detail to come from UE.
