Australia’s Unemployment Rate declines to 4.2% in July vs. 4.2% expected
Australia’s Unemployment Rate dropped to 4.2% in July from 4.3% in June, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in below the market consensus of 4.2%. Furthermore, the Australian Employment Change arrived at 24.5K in July from 1K in June (revised from 2K), compared with the consensus forecast of 25K. The participation rate in Australia held steady at 67.0% in July, compared to 67.0% in June (revised from 67.1%). Meanwhile, Full-Time Employment increased by 60.5K in the same period from 37.6K in the previous reading (revised from -38.2K). The Part-Time Employment decreased by 35.9K in July versus an increase of 40.2K prior. Sean Crick, ABS head of labour statistics, said with the key highlights noted below
