Australia will release its July monthly employment report on Thursday at 1:30 GMT, following the Reserve Bank of Australia (RBA) decision to trim the Official Cash Rate (OCR) by 25 basis points (bps) to 3.6%. The Australian Bureau of Statistics (ABS) is expected to announce that the country added 25,000 new job positions in the month, after adding the measly 2,000 announced in June. The Unemployment Rate is foreseen declining to 4.2% after spiking to 4.3% in the previous month, while the Participation Rate is expected to remain unchanged at 67.1%. Australian ABS reports both full-time and...
Employment in Australia increased by 24,500 to a record peak of 14.64 million in July 2025, sharply picking up from a downwardly revised 1,000 rise in the previous month but slightly below market consensus of a 25,000 gain. Full-time employment surged 60,500 to a record peak of 10.13 million, swinging from a downwardly revised 36,700 gain in June. However, part-time employment declined by 35,900 to 4.52 million, erasing a downwardly revised 37,600 increase in June. The employment-to-population ratio edged up to 64.2%, with the participation rate steady at 67.1%. Year-on-year, total...
The UK economy fared better than expected in the second quarter, bringing some relief for Chancellor of the Exchequer Rachel Reeves but raising the bar to further interest-rate cuts from the Bank of England. Gross domestic product rose 0.3%, the Office for National Statistics said Thursday, beating the 0.1% forecast by both private-sector economists and the Bank of England. Output in June alone gained 0.4% — double expectations — following modest declines in the previous two months. The figures suggest the economy held up during what always expected to be a difficult...