Australia employment unexpectedly falls in August, jobless rate steady

Sydney (Reuters) – Australian workers decreased unexpectedly in August, when positions fell full -time after a sharp rise in the previous month, while the unemployment rate is fixed in the sign that the labor market was slowly.

The Australian dollar fell by 0.2 % to $ 0.6637, while futures increased for three years in 3 to 96.6.

The mixed report failed to transfer the phone call to policy expectations, as investors supported the bets that the Australian Reserve Bank is likely to take a step in interest rates this month, with a reduction in November about 75 %.

The Australian Statistical Office numbers on Thursday showed that net recruitment decreased by 5400 in August, when 2,6500 reviews rose. This was much lower than market expectations to make 21500, while full -time jobs fell 40,900.

The growth of annual jobs slowed to 1.5 %, from 3.5 % in January. The hours decreased by 0.4 %, to reflect a profit in July.

The unemployment rate remained at 4.2 %, as expected, which is still low in historical standards, while the participation rate decreased to 66.8 %.

“The growth of steam labor, with the number of employees changed for four months by four months.”

“We don’t think this data is bad enough to motivate RBA to work this month. But another is expected to be reduced in November.”

RBA has so far adopted a gradual and cautious approach to relieving politics, after it was reduced in February, May and August after evaluating the inflation data for a quarter. With the return of inflation in the target range of 2-3 %, the focus is now on the labor market, which is amazingly designed.

The central bank expected the unemployment rate to reach about 4.3 % of this quarter, and stay there in the foreseeable future.

The leading indicators of labor demand were solid with the stability of work ads higher than prenatal levels. Work polls are optimistic in general and spending on consumers in the past two months, as low borrowing costs and previous tax discounts are feeding on income.

Sarah Hunter, the assistant ruler of RBA, said on Tuesday that the central bank was about to achieve all the states of inflation and employment, despite the risk of both sides of his economic view.

Anz, one of the four major Australian banks, said that this month will reduce approximately 3,500 jobs this month as part of a large restructuring, while the National Bank of Australia will create 410 jobs and move some of these abroad.

(I participated in the reports of Stella Chey and Winan Cole; edited by Jacqueline, Wong and Wissam Holmes)