A significantly better than expected Aussie jobs report has sent the Aussie higher.
- AUSTRALIA AUG EMPLOYMENT +111.0K S/ADJ (REUTERS POLL: -50.0K)
- AUSTRALIA AUG UNEMPLOYMENT RATE +6.8 PCT, S/ADJ (REUTERS POLL: +7.7)
- AUSTRALIA AUG FULL TIME EMPLOYMENT +36.2K S/ADJ
- AUSTRALIA AUG PARTICIPATION RATE +64.8 PCT, S/ADJ (REUTERS POLL: +64.7 PCT)
- AUSTRALIAN DOLLAR RISES ABOUT 0.3% TO $0.7301 AFTER JOBS DATA
Description
The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).
