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Australian Unemployment Rate Declines as Fewer People Seek Work
Thursday, 14 June 2018 08:53 WIB | ASIA | AustraliaPengangguran

Australian unemployment declined to 5.4 percent in May as fewer people sought work.

Jobs gained 12,000 from April; economists forecast 19,000 gain. Unemployment fell to 5.4% from 5.6%; estimate 5.5%.

Full-time jobs dropped 20,600; part-time employment rose 32,600. Participation rate fell to 65.5%; economists predicted 65.6% .

Aussie dollar bought 75.65 U.S. cents at 11:34 a.m. in Sydney from 75.70 pre-data.

Unemployment has been range-bound at around 5.5 percent for the past year, absorbing blockbuster job gains in late 2017 and then a slower pace of hiring in the first four months of 2018.

Australian central bank officials see a solid outlook and expect that, as the jobless rate falls toward 5 percent, wage growth and inflation should pick up and clear the path for the first interest rateincrease in eight years.

Source: Bloomberg

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