- Australia's jobless rate advanced to 4.6% in August, exceeding expectations it would hold at 4.5%.
- The economy added 39,500 jobs versus a predicted 20,000 gain, showing hiring stayed firm even as unemployment rose.
- The participation rate rose to 67.1% from 66.9%, indicating more people entered the labor force.
- The data lands days before the Reserve Bank of Australia weighs resuming interest-rate increases.
Quotes
“Australian unemployment climbed further in August as more people sought work, overshadowing a jump in hiring days before the Reserve Bank weighs resuming interest-rate increases.”
“The jobless rate advanced to 4.6%, exceeding expectations it would remain at 4.5%, government data showed Thursday.”
“The economy added 39,500 jobs versus a predicted 20,000 gain, while the participation rate rose to 67.1% from 66.9%.”