Australia's Unemployment Rises in August
Thursday, 19 September 2019 08:52 WIB | ECONOMY |UnemploymentEkonomi AustraliaTingkat Pengangguran,

Australia's unemployment rate rose in August reflecting a slowdown in the economy, and adding to a fast-growing case for interest rates to be cut further in coming months.

Unemployment rose to a seasonally adjusted 5.3% in August from 5.2% in July, as employment growth of 34,700 over the month was outpaced by a jump in the number of people seeking work. Economists had expected an unemployment rate of 5.2% in August, with 20,000 jobs added to the economy.

Rising unemployment will alarm the RBA which cut interest rates in June and July saying it needed to see faster GDP growth and a fall in the jobless rate to 4.5% to spark wages growth and nudge inflation higher.

Full-time job creation fell 15,500 in August, while part-time increased by 50,200, the Australian Bureau of Statistics said Thursday.

Australia's economy grew at its slowest annual pace since 2009 in the second quarter, with a big contribution from export growth keeping the result respectable.

The economy has been sluggish since mid-2018 as consumer spending has slowed due to years of weak wages growth and a big jump in household debt.

RBA Governor Philip Lowe said recently that he sees signs of a "gentle turning point" for the economy. The RBA cut interest rates for the first time since 2016 this year, and the government rolled out income tax cuts, amid hopes the tonic would help to spur more confidence and spending.

Source : Bloomberg       

RELATED NEWS

Aussie Data Dump: Retail Sales, ( 0% vs 0.3% exp ) Trade Balance, ( 450M vs 6100M exp )
Thursday, 5 December 2019 08:11 WIB

AUD's marathon of data for the week has continued today with the release of the October Retail Sales and Trade Balance. Note: Retail Sales was the main focus in these releases. The data arrived as follows : Imports (Oct)   0% vs prior 3%. Exports (Oct)   -5% vs prior 3%. Tra...

US ISM Non-Manufacturing PMI adds another miss, USD slide continues
Wednesday, 4 December 2019 22:35 WIB

The US ISM Non-Manufacturing PMI for the month of November printed a 53.9 reading, half a point below the consensus expectation. The service sector business survey adds to the bunch of negative releases coming from the United States this week, after disappointments from the ISM Manufacturing PMI and...

ADP badly disappoints with 67K, GBP/USD breaks above 1.31, EUR/USD nears 1.11
Wednesday, 4 December 2019 20:34 WIB

ADP's Employment Change figures for November came out at 67,000, well below expectations for an increase of 140,00. Moreover, October's figure was revised down to 121,000 from 125,000. Some suspect that the gap stems from calculations related to the strike at General Motors. Nevertheless, this is t...

Aussie GDP Q3 Misses The Mark, AUD/USD Drops to Session Lows
Wednesday, 4 December 2019 07:55 WIB

Australia™s Q3 national accounts in the Gross Domestic Product has been released. Prior to the data, analysts at Westpac had noted that," growth over the year to Q2 was just 1.4%, the slowest pace since 2009 and revealing that the economy was declining in per capita terms," arguing that, "favoura...

U.S. Manufacturing Sector Weakens Further in November - ISM
Monday, 2 December 2019 22:18 WIB

The Institute for Supply Management said its manufacturing index sank to 48.1% in November from 48.3% in October. Economists surveyed by MarketWatch had forecast the index to total 49.2%. Readings below 50% indicate business conditions are getting worse. The indexes measuring new orders and employ...

ANOTHER NEWS
Tokyo Stocks Open Higher on Lingering Hopes For Trade
Friday, 6 December 2019 07:44 WIB Tokyo stocks opened higher on Friday, extending rallies on Wall Street supported by continued hopes for a US-China trade deal. The benchmark Nikkei 225 index edged up 0.31 per cent or 72.91 points to 23,373.00 in early trade, while the broader...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.