The ABS released Australia’s December labour force survey as follows:
- Dec Employment +50.0k s/adj (Reuters poll: +50.0k).
- Unemployment rate +6.6 pct, s/adj (Reuters poll: +6.7).
- Full time employment +35.7k s/adj.
- Participation rate +66.2 pct, s/adj (Reuters poll: +66.2 pct).
AUD/USD is steady on the data release, bid in the session by 0.12% at the time of writing at 0.7753. However, the Unemployment rate is moving in the right direction for Aussie bulls.
Description of the Unemployment Rate
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).
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