ABS releases latest labour force figures, unemployment rises to 4.1 per cent


Economists and analysts are expecting the Reserve Bank to hold the cash rate at 4.35 per cent, following a slight increase in the unemployment rate to 4.1 per cent.

The increase, revealed in the seasonally adjusted figures released by the Australian Bureau of Statistics (ABS) on Thursday, was partially offset by 50,000 new jobs added to the economy, with labour force participation also higher than predicted.

Oxford Economics Australia’s lead economist Ben Udy said Thursday’s data wouldn’t have too much of an impact on the rates, and maintained the RBA would hold the cash rate when it hands down its decision on August 6.

Know More: https://www.news.com.au/finance/work/at-work/abs-releases-latest-labour-force-figures/news-story/3770304483a9a2ecbc85e1747a81f7f0

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