Australia added more jobs than market estimated in May which raises expectations about its economy and further moves away possible cutting interest rates by RBA.
Employment rose by 17,9k in May while consensus indicated 15,0k. Interestingly that last data was revised down from 10,8k to 0,8k due bigger fall in full time employment.
Full time employment did not change from April, but fall of 9,3k in this month was revised down to -18,2k. Gain from May was caused by rise of part time employment of 17,9k. The data from April was revised down slightly from 20,2k to 19,1k.
Unemployment rate remained unchanged at 5,7% in line with market consensus. Participation rate also did not change at 64,8%, but market consensus assumed a little growth to 64,9%.
The mixed tone from the data put pressure on the Australian dollar which loses 0,75% against the US dollar and strong move is seen at AUDNZD currency pair.
Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.