US EditionAustralia Unemployment Rate Jumps to 3-1/2-Year High in June
AUSTRALIA, JUL 17 – Unemployment jumped 0.2 points to 4.3%, driven by 34,000 more unemployed and a shift from full-time to part-time jobs, increasing pressure on the Reserve Bank of Australia to cut rates.
- Last month Australia’s unemployment rate rose to 4.3%, its highest since late 2021, signalling a labour market softening.
- Amid the slowdown, hours worked fell 0.9% in June, with compositional labour dynamics seeing 40,000 part-time gains and 38,000 full-time losses.
- Interest rate swaps now price an 83% probability for a rate cut next month, and the Australian dollar slid 0.5% to 0.6493.
- After the surprise hold last week, unemployment rose to 4.3%, boosting the chances of rate relief next month.
- Amid global trade tensions, labour and currency trends, the Reserve Bank board meets again in mid-August to decide on rates, influenced by labour and currency movements in H2 2025.
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Treasurer Jim Chalmers expects unemployment to rise further, arguing the uptick is “unsurprising” amid global uncertainty. Australia’s unemployment rate rose to 4.3 per cent in June, according to the latest data by the Australian Bureau of Statistics released on Thursday. Speaking against the backdrop of economic slowdowns and trade tensions as he attends a G20 meeting of finance ministers and central bank governors in South Africa, Chalmers urg…
Coverage Details
Total News Sources32
Leaning Left4Leaning Right6Center4Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 29%
C 29%
R 43%
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