Thursday, 19 July 2018 08:50 WIB |
ASIA | AustraliaEkonomi Australia
Australian employment surged by more than triple economists' estimates in June, bolstering the central bank's argument that strong economic growth will spur hiring.
Jobs rose 50,900 from May; economists forecast 16,500 gain.
Unemployment rate was 5.4%; estimate 5.4%.
Full-time jobs gained 41,200; part-time employment rose 9,700.
Participation rate climbed to 65.7%; economists predicted 65.5% .
Aussie dollar jumped to 74.33 U.S. cents at 11:34 a.m. in Sydney from 74 cents pre-data.
Australia™s jobs market hit a soft patch earlier this year despite economic growth accelerating above 3 percent and following a red-hot 2017 that produced record full-time hiring.
The central bank is relying on a strengthening economy to absorb spare capacity and help drive inflation, to potentially clear the path for the first interest-rate hike in almost eight years.