Data released from Australia this morning, Thursday, June 17, showed an improvement in the Australian labor market in May, as the unemployment rate fell to 5.1% compared to 5.5%, while expectations indicated its stability, in addition to an increase in the labor participation rate to 66.2%. On the other hand, the Australian labor market added about 115.200 thousand jobs in May to reach 13.125.1000 million jobs, compared to a loss of about 30.7 thousand jobs in April, while expectations were to add about 30.5 thousand jobs. In details, full-time employment added about 97,500 thousand jobs, while part-time employment added 17,700 thousand jobs. The Australian dollar rose against the US dollar after this data by about 35 points in the Asian session, and tested 0.7649 levels, before falling back at the beginning of the European session, affected by the US dollar’s gains. It is now trading at 0.7611 levels, the lowest level since last April.
07/11/2024
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