The jobless rate in Australia is seen picking up pace towards the end of the year, according to Economist at UOB Group, Lee Sue Ann. Key Quotes “Australia’s jobless rate unexpectedly slipped from a 22-year high of 7.5% in July, to 6.8% in August, as employment surged past expectations helped by part-time work… Despite the improvement in unemployment, the underemployment rate remained elevated at 11.2%, 2.4 percentage points above the level in March.” “Whilst the latest numbers definitely came as a surprise, job gains were held back by Victoria, where employment fell 1.3% m/m in August. Employment rose 1.7% m/m across other regions. Nonetheless, the latest jobs report is certainly a testament to the government’s signature Jobseeker employment subsidy – that will extend into 2021 – as well as monetary stimulus.” “We still look for unemployment in Australia to climb higher into year-end before gradually recovering in later part of 2021, provided COVID-19 developments comes under control as expected (i.e. state borders opened by year end but international borders not until this time next year) and there is a strong stimulus package in the October budget.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK’s Hancock: Progress is going well on vaccine but “¦ FX Street 2 years The jobless rate in Australia is seen picking up pace towards the end of the year, according to Economist at UOB Group, Lee Sue Ann. Key Quotes “Australia's jobless rate unexpectedly slipped from a 22-year high of 7.5% in July, to 6.8% in August, as employment surged past expectations helped by part-time work… Despite the improvement in unemployment, the underemployment rate remained elevated at 11.2%, 2.4 percentage points above the level in March.” “Whilst the latest numbers definitely came as a surprise, job gains were held back by Victoria, where employment fell 1.3% m/m in August. Employment rose 1.7% m/m… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.