The Australian labour market took an unexpected turn when the unemployment rate climbed 0.2 percent to 3.7 percent in July.
This came despite most economists expecting the rate to remain steady after dropping to a 48-year low of 3.5 percent in June.
Australia’s Unemployment Growth in July Raises Possibility of Another Interest Rate Pause
A fishmonger shucks an oyster at the Sydney Fish Market in Sydney, Australia, on on Dec. 24, 2015. Cameron Spencer/Getty Images
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Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].
