More employment but higher jobless rate in July

15 August 2024

 

Summary:  Employment up 58,300 in July, greater than expected; Westpac: results speak to labour market resilience rather than weakness; ACGB yields fall across flatter curve; rate-cut expectations firm; ANZ increases in labour supply continuing to meet/exceed demand; participation rate rises to 67.1%, new series high; jobless rate rises to 4.2%; fewer part-time jobs, more full-time jobs; aggregate work hours up 0.4%; underemployment rate declines to 6.3%. Australia’s period of falling...

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