Australian Unemployment Rate rose to 6.0%

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Thursday, Feb 18 2016

Australian employment decreased 7,900 to 11,894,500, thus missing forecasts on increase by 12,900. Full-time employment decreased 40,600 to 8,185,800 and part-time employment increased 32,700 to 3,708,700. Unemployment increased 30,200 to 761,400. The number of unemployed persons looking for full-time work increased 25,600 to 544,100 and the number of unemployed persons only looking for part-time work increased 4,600 to 217,300.

Unemployment rate increased 0.2 pts to 6.0%. Analysts were predicting no change. Participation rate remained steady at 65.2%. Monthly hours worked in all jobs increased 10.9 million hours to 1,656.0 million hours. Employment has fallen after recording the biggest quarterly gain on record at the end of 2015. That surge drew renewed skepticism about the accuracy of labor force data, which the Australian Bureau of Statistics has acknowledged in the past.

Aussie is currently being traded around 0.7160 area. Pair is likely to find support around 0.7080 handle and resistance above 0.7250 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.

More in this category: « Fed concerned about fall in commodity prices China's CPI picked up led by food costs »

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