Australian labour market report
Unemployment Rate 4.2%
- expected 4.2%, prior 4.2%
Employment Change -5.4K, a poor result
- expected 22.0K, prior 24.5K
Participation Rate 66.8%, lower participation has prevented the jopbless rate from rising
- expected 67%, prior 67%
Part-Time Employment +35.5K
- prior -35.9K
Full-Time Employment -40.9K, terrible number
- prior 60.5K
While the headline jobless rate is unchanged, the alternative headline, job losses vs. a gain expected, is bad news.
Its compounded by the big full time losses.
Not a good bunch of figures.
These will ignite thoughts of a nearer term Reserve Bank of Australia rate cut, at the margin.
AUD/USD fell on the data, back under 0.6640.
