Aussie jobs beats expectations in headline and Unemployment Rate, AUD bullish

The Unemployment Rate release by the Australian Bureau of Statistics has beaten expectations as has the Employment and Full-time employment data as follows:

Employment Rate: +32.2K (vs. +15K expected).

Unemployment Rate 3.4% (vs. 3.6% expected).

More to come...

About Aussie jobs data

The Australian Bureau of Statistics (ABS) publishes an overview of trends in the Australian labour market, with unemployment rate a closely watched indicator. It is released about 15 days after the month end and throws light on the overall economic conditions, as it is highly correlated to consumer spending and inflation. Despite the lagging nature of the indicator, it affects the Reserve Bank of Australia’s (RBA) interest rate decisions, in turn, moving the Australian dollar. Upbeat figure tends to be AUD positive