Australian Hiring Rebounds in May, Pushing Down Unemployment

Australian hiring rebounded in May, reversing the prior month’s losses, while the jobless rate edged lower. The data support the Reserve Bank’s view that the labor market remains tight, a mildly positive signal for economic resilience and potentially supportive of a less dovish policy stance.

Analysis

Australian hiring rebounded in May, reversing the prior month’s losses, while the jobless rate edged lower. The data support the Reserve Bank’s view that the labor market remains tight, a mildly positive signal for economic resilience and potentially supportive of a less dovish policy stance.