Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Australia Job Market Defies Economic Slowdown

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/14/2019 | 09:51pm EDT

By James Glynn

SYDNEY--Australia's labor market continued to defy signs of a slowdown in the economy, with more than 41,000 jobs created in July.

Still, the unemployment rate was unchanged at a seasonally adjusted 5.2% in July as more people looked for work. Economists had expected an unemployment rate of 5.2%.

The number of people employed rose by 41,100, compared with an expected 14,000 rise, the Australian Bureau of Statistics said Thursday. The number of people in full-time work rose by 34,500, while those in part-time work rose by 6,700.

An estimate of second-quarter GDP growth, due next month, is expected to show the economy growing at its slowest annual pace in a decade with weak consumer spending a major brake on activity.

Official interest rates were cut in June and July as the Reserve Bank of Australia reduced its estimate for full employment to 4.5% from 5.0%.

High levels of spare capacity in the job market mean it will take some time to achieve full employment. Some economists expect the RBA to eventually adopt alternative policy measures in order to maintain momentum in the economy and push the unemployment rate lower.

Data on Wednesday showed wages growth was better-than-expected in the second quarter due to a strong lift in pay for public servants. However, the annual pace of wages growth remained weak.

-Write to James Glynn at james.glynn@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
05:56aChina July rare earth magnets exports to U.S. rise 26% year-on-year
RE
05:55aChina July rare earth magnets exports to U.S. rise 26% year-on-year
RE
05:46aNEW FREE TRADE AGREEMENT : Better trade terms and a commitment to combat illegal logging
PU
05:45aTrump Gambles That China Trade War Will Pay Off in 2020
DJ
05:36aTanzania central bank threatens hefty fines for lenders over data compliance
RE
05:17aUK government planning fuel duty cut in emergency budget - Sunday Times
RE
05:09aCuadrilla says 'micro seismic event' occurred at fracking site near Blackpool
RE
04:59aTrump, Johnson discuss Huawei on G7 sidelines
RE
04:54aAt G7 summit, Trump offers Brexit Britain a 'very big' trade deal
RE
04:31aCENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : China's coal output surges in past 70 years
PU
Latest news "Economy & Forex"
Advertisement