wrapper

Australian Unemployment Rate rose to 6.3%

Thursday, Aug 06 2015
The latest official figures from the Bureau of Statistics show a jump of employment of 38,500 in July after a jump of 7000 in June and 42,000 in May. Analysts were predicting smaller increase by 12,500. The combined jump of 87,500 came as the unemployment rate climbed from 6 to 6.3%, missing forecasts on incline to 6.1%. The discrepancy is explained by a jump in the number of unemployed Australians from 771,000 to 801,000. The results come at a time of unusual volatility in the figures following changes in the way the Bureau of Statistics collects the data.
 
On the face of it they show they show a big increase in the number of Australians prepared to look for work as an extra 30,000 described themselves as unemployed and an extra 87,500 found jobs. It is highly likely that both growth rates will be revised down next month when the Bureau recalibrates its estimates to take account of lower than expected population growth. In the face of such volatility, analysts are more likely to rely on the rate, which the figures show climbing to 6.3%.
 
After the data Aussie initially went up, but than pulled back, currently being traded around 0.7330 area. Pair is likely to find support at 0.73 handle and resistance above 0.7380 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
 
More in this category: « US Trade Balance deficit widen to $43.8 billion German Factory Orders increased 2% »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.