In trend terms, in July 2023: • unemployment rate remained at 3.6%. • participation rate remained at 66.8%. • employment increased to 14,056,100. • employment to population ratio remained at 64.4%. • underemployment rate remained at 6.4%. • monthly hours worked increased to 1,956 million. In seasonally adjusted terms, in July 2023: • unemployment rate increased to 3.7%. • participation rate decreased to 66.7%. • employment decreased to 14,026,700. • employment to population ratio decreased to 64.3%. • underemployment rate remained at 6.4%. • monthly hours worked increased to 1,952 million. • full-time employment ... (full story)

AUD/USD justifies downbeat Australian employment data, as well as the broad risk-off mood, by refreshing the Year-To-Date (YTD) low near 0.6370 during early Thursday. In doing so, the Aussie pair drops for the eighth consecutive day amid a broadly firmer US Dollar. Australia’s headline Employment Change slumped to -14.6K for July on a seasonally adjusted basis versus 15.0K expected and 32.6K prior whereas the Unemployment Rate edges higher to 3.7% compared to the market’s expectations of once again witnessing 3.5% figure. Apart from the mostly downbeat Aussie jobs report, economic concerns surrounding Australia’s ... (full story)