SYDNEY (Reuters) – Australia employment unexpectedly fell in July to end two months of very strong growth, while the jobless rate ticked higher in a sign the drum-tight labour market might finally be loosening.
Figures from the Australian Bureau of Statistics on Thursday showed net employment fell 14,600 in July from June, when they jumped 31,600. Market forecasts had been for an increase of around 15,000.
The jobless rate rose to 3.7%, topping analysts’ forecasts of 3.6% and the highest reading since April.
(Reporting by Wayne Cole; Editing by Jacqueline Wong)
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