Australia July jobs data
Unemployment Rate: 4.6%
Full-Time Employment Change: -4.2K
Part-Time Employment Change: +2.0K
Participation Rate: 66.0%
That’s a big beat for Australia employment and the fall in unemployment to 4.6% is a huge surprise. There is a strong trend globally for countries shrugging off the effects of recent lockdowns but no one expected that to apply to a relatively-untouched place like Australia. Perhaps it has.
Initially, AUD/USD isn’t exactly cheering the report. The pair ticked slightly higher but is back to pre-release levels at 0.7226.