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Australian Unemployment Rate fell to a one-year high

Thursday, Jun 11 2015
Employment increased 42,000 to 11,759,600, thus beating forecasts on smaller incline by 12,100. Full-time employment increased 14,700 to 8,128,600 and part-time employment increased 27,300 to 3,630,900. Unemployment decreased 22,000 to 745,200. The number of unemployed persons looking for full-time work decreased 23,500 to 514,500 and the number of unemployed persons only looking for part-time work increased 1,500 to 230,800. The slowing in wage growth in response to soft labor market conditions has also undoubtedly helped to hold employment up.
 
Unemployment rate decreased 0.2 pts to 6.0%, based on unrounded estimates. Analysts were anticipating no change from last month's 6.2%. The statistics agency has in the past cited challenges in compiling the monthly report, and a half-point drop in the jobless rate in Western Australia conflicts with other evidence that the mining-dependent state is being walloped by a slump in resources investment. 
 
After the data Aussie was pushed higher and is currently being traded few points above 0.7760 level. Pair is likely to find support around 0.77 handle and resistance near 0.78 area. Later today, China's Industrial Production figures are scheduled for a release.
More in this category: « USD broadly lower against its major rivals China's Industrial Production up by 6.1% »

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