Jobless rises to 4.3% increasing rate cut chance & diversity on boardrooms

Nation on notice as signs point to growing jobless rate

The unemployment rate jumped to 4.3 per cent in June – the highest level since November 2021. (Bianca De Marchi/AAP PHOTOS) By Kat Wong and Andrew Brown in Canberra More rises in unemployment levels could be on the cards as the jobless rate comes off historic lows. Many market economists expected the jobless rate to stay at 4.1 per cent in June, but the Australian Bureau of Statistics said it jumped to 4.3 per cent – the highest level since Nove…

Surprise jobless hike may trigger interest rate relief

Australians may get another interest rate cut as the Reserve Bank mulls over an unexpected increase in the...

Jobless rises to 4.3% increasing rate cut chance & diversity on boardrooms

SBS Finance Editor Ricardo Gonçalves speaks with Nick Stenner from Bank of America about the rise in Australia's unemployment rate to 4.3% to find out what it says about the labour market and means for interest rates, while Henry Jennings from Marcus Today goes through market reaction, plus Mariam Veiszadeh from the AICD checks in on how corporate Australia is tackling diversity in boardrooms.

The RBA suddenly looks late on rates

The jump in the jobless rate appears to have all but locked in a rate cut in August, after the RBA shocked the market by holding last week.

Unemployment Spike Crashes Aussie Dollar — Is Australia Headed for a Recession? - Commonwealth Union

The Australian economy recently faced a shock as new data from the Australian Bureau of Statistics (ABS) showed an unexpected drop in employment figures. This information has caused disruptions in financial markets, leading to a very sharp fall in the Australian dollar and increased expectations of an imminent interest rate cut by the Reserve Bank of Australia (RBA). Now, money market participants believe there is almost a certainty of a rate cu…

Cliff Notes: Balancing Inflation and Growth Concerns - Action Forex

In Australia, the main event this week was the June Labour Force Survey. It was another disappointing read for job creation (+2k) that left employment effectively flat over May and June. Growth is still coming off a high base though, annual growth holding at 2.3%yr on a three-month average basis. However, it is also telling that average hours worked posted a significant decline (–1.0%), falling short of the long-run trend and providing an explan…