Australia’s unemployment rate stabilized at 4.2%, according to figures released by the Australian Bureau of Statistics (ABS) at the beginning of the Asian session today, Thursday, September 18, unchanged from the July reading and in line with market expectations, despite a decline in the labor force participation rate to 66.8% from 67.0% in July.
The Australian economy lost an estimated 5,400,000 jobs in August, bringing the total number of jobs to 14,626,500, after adding approximately 26,500,000 jobs in the revised July reading, compared to expectations of approximately 21,000 jobs being created.