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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.

 


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