June Job Growth Booms
Latest ABS numbers reveal job growth boomed in June, adding over 50,000 new positions during the month.
The number of employed individuals blew past expectations, notching a whopping 50,900 increase versus 16,500 forecast.
Local unemployment remained unchanged at 5.4% [seasonally adjusted], whilst participation rate jumped from 65.5% in May to 65.7% in June.
Full time employment climbed by 41,200 during the month, whilst part-time staff jumped 9,700.
The Reserve Bank is tipped to keep interest rates low, awaiting a further drop in unemployment, coupled with wage and inflation growth.