The Australian jobs report for June is out, and it’s a beat on expectations.
The economy added 15,900 jobs last month. The median market expectation from surveys of economists was 12,000.
The unemployment rate ticked up to 6%.
Full-time jobs fell 3,800 but part-time jobs rose 19,700. The participation rate was 64.7%.
But this is still a good result overall, and continues the momentum seen in core economic data from the first quarter of the year.
Weak consumer confidence triggered by concerns around the hip-pocket impact of the federal budget has been a concern over the past two months.
Continuing creation of jobs will act as a natural antidote.
More to come…