Analysts at TD Securities note that the Australia’s unemployment rate for June remained unchanged at 5.2%, in line with market expectations.
Key Quotes
“Full time employment in June rose 21.1k while part time employment fell by 20.6k. A positive surprise was the drop in underutilization, which fell to 13.4% in June from 13.7% in May. The labor force participation rate held steady at 66%. Todays outcome should leave the RBA comfortable to sit it out on the sidelines not needing to sweat a poor outcome.”
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