Australia Jobless Rate Sinks To 3.5% In June
(RTTNews) - The unemployment rate in Australia came in at a seasonally adjusted 3.5 percent in June, the Australian Bureau of Statistics said on Thursday - beating expectations for 3.8 percent and down significantly from 3.9 percent in May.
The Australian economy added a whopping 88,400 jobs last month, blowing away forecasts for the addition of 30,000 jobs following the addition of 60,600 jobs in May.
The participation rate climbed to 66.8 percent, also topping forecasts for 66.7 percent - which would have been unchanged.
Full-time employment saw the addition of 52,900 jobs, while part-time jobs gained another 35,500.
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Australia Private Sector Credit Gains 0.4% In May
Overall private sector credit in Australia was up 0.4 percent on month in May, the Reserve Bank of Australia said on Friday - in line with expectations and easing from 0.5 percent in April.
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15h 55min ago
Australia Inflation Exceeds Expectations In May
Australia inflation accelerated more than expected in May, suggesting the Reserve Bank will remain hawkish at the August meeting. Consumer price inflation rose to 4.0 percent in May from 3.6 percent in April, the Australian Bureau of Statistics reported Wednesday. Inflation was expected to rise to 3.8 percent.
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2 days ago
Australia Consumer Sentiment Rises In June: Westpac
Australia consumer confidence improved in June but remained firmly in the negative zone largely due to concerns about inflation, growth and interest rate outlook, survey data from Westpac showed on Tuesday. The Westpac-Melbourne Institute Consumer Sentiment Index rose to 83.6 in June from 82.2 in May.
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3 days ago
Australia Manufacturing PMI Slips To 47.5 - Judo Bank
The manufacturing sector in Australia continued to contract in June, and at a faster rate, the latest survey from Judo Bank revealed on Friday with a manufacturing PMI score of 47.5.
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7 days ago
RBA Holds Key Rate At 12-Year High; Vigilant On Inflation
The Reserve Bank of Australia decided to leave its benchmark rate at a 12-year high for a fifth straight meeting and underscored that inflation is slowing more slowly than anticipated, leaving the door open for a possible rate hike. The policy board of the RBA, led by Governor Michele Bullock, retained the cash rate target at 4.35 percent.
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10 days ago
Australia Jobless Rate Falls To 4.0%
Australia's unemployment rate dropped in May and employment increased notably, suggesting that the labour market is relatively tight, official data revealed on Thursday. The jobless rate fell to 4.0 percent in May, as expected, from 4.1 percent in April, the Australian Bureau of Statistics said. The number of people out of work decreased by 9,200 in May, reversing an increase of 33,000 in April
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15 days ago
Australia Business Sentiment Turns Negative In May: NAB
Australia business confidence turned negative in May underscoring that the economic activity continued to remain subdued into the second quarter, survey results from NAB showed on Tuesday. The business confidence index dropped to -3 in May from +2 in April.
At -6, the forward orders index remained deep in the negative zone.
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17 days ago
Australia GDP Adds 0.1% In Q1
Australia's gross domestic product expanded a seasonally adjusted 0.1 percent on quarter in the first quarter of 2024, the Australian Bureau of Statistics said on Wednesday.
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23 days ago
