RBA rate cut at risk on more women finding full-time jobs

Australia’s unemployment rate recovered in July because thousands of people find full -time jobs.

The new figures published by the Australian Statistical Office show that the unemployment rate fell from 4.3 percent to 4.2 percent in July.

Unemployment decline last month 24,500 people found a job.

This was largely compatible with the expectations of the creation of 35,000 new roles.

The growth in employment was directed by full -time employment rising by 60,000 people, and 36,000 people fell in part -time employment.

Full -time workers increased 40,000, male full -time workers increased by 20,000.

‘Early stages of a decline’

On Tuesday, RBA continued to predict the full unemployment rate until December this year.

Although it is a good news for workers, BDO economic partner Anders Magnusson said that the unemployment rate reduces the hope of alleviating more interest rates.

“Today’s labor figures show the unemployment rate as 4.2 percent, slightly less than 4.3 percent estimation of the Reserve Bank.

“Although this still points to gradual relaxation under conditions, it shows that the labor market looks a little better than RBA predicted.”

Oxford Economy Macroeconomic Estimation President Sean Langcake said that the strong growth in full -time wages also helps to increase the watches in which they work and fell a tick at a rate of incomplete employment.

“The labor market said it was in a strict position for a long time and challenged a wider slowdown in economic growth.

“However, the labor market now appears in the early stages of a decline.

“However, weak economic momentum and global uncertainty will be strong winds for the labor market to overcome the rest of the year.”