Australian employment decreased by 2,900
Australian employment decreased 2,900 to 11,724,600, missing expectations on an increase by 3,500. Full-time employment decreased 21,900 to 8,115,900 and part-time employment increased 19,000 to 3,608,600. Unemployment increased 7,000 to 769,500. The number of unemployed persons looking for full-time work decreased 2,700 to 541,500 and the number of unemployed persons only looking for part-time work increased 9,800 to 228,000.
Unemployment rate increased 0.1 percentage points to 6.2%, in line with market forecasts. Participation rate decreased 0.1 percentage points but remained at 64.8%, based on unrounded estimates. Aggregate monthly hours worked increased 17.8 million hours (1.1%) to 1,651.9 million hours.
After the data, Aussie was initially pushed lower, but quickly rebounded and is currently being traded few points above 0.7980 level. Pair is likely to find support around 0.79 handle and resistance above 0.8050 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
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