Full-time jobs increased in Australia but unemployment rate raised

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According to official information in June the unemployment rate increased slightly. There is expected some pressure off the Reserve Bank of Australia which will cut interest rates further over the rush of full-time jobs.

The latest labour force survey made by the Australian Bureau of Statistics showed the increasing of net 8000 jobs during the month. The index of the official unemployment increased to 5.8% from 5.7%.

Australia-jobs-report-key-figures-April-2016There is a slight raise of the participation rate to 64.9%.

In contrast to information from previous months there was a loss more than 30,000 casual positions of the full-time newly employed. The casual positions offset a 38,400 full-time jobs strong gain.

Previously the job figures satisfied the expectations.

According to the forecast of economists the headline rate increased by 0.1% and added 10,000 positions. For three consecutive months the jobless rate did not change from 5.7%.

4000The RBA is focused on the second-quarter consumer price information which was released late this month, as UBS economist George Tharenou said.

The survey of the labour marker showed the decent trend for the increasing of jobs and steady unemployment level.

“This continues to put the onus on low inflation to see the RBA deliver our expected 25 basis point rate cut in August,” said Mr Tharenou.

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