Latest data reported by the ABS dims chances of a near-term RBA interest rate cutFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustralia’s unemployment rate ticked higher last month, even as employers added about three times as many jobs as expected. The job gains will probably discourage the Reserve Bank from cutting its key interest rate in the near term.The jobless rate in July rose to 4.2%, seasonally adjusted, the Australian Bureau of Statistics reported on Thursday. Economists had expected the rate to remain in line with June’s 4.1% level for June. Continue reading…
Source link : https://www.theguardian.com/business/article/2024/aug/15/australia-unemployment-rate-july-2024-rises
Author : Peter Hannam Economics correspondent
Publish date : 2024-08-15 02:48:32
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Australia’s unemployment rate rises to 4.2% in July, even as employers add more than 58,000 jobs
