The unemployment rate in Australia fell to a 3-year low in July at 5.70%, data from the Australian Bureau of Statistics showed on Thursday, which beat estimates of 5.80%. However, despite the better than expected unemployment rate, most of the job gains came from the part-time sector which has now become a trend. During the month, the Australian economy added 26.2k jobs, which was higher than forecasts of 10k. Full time jobs decreased by 45k while part-time employment increased by 71.6k. The participation rate remained steady at 64.90%, unchanged from the previous month. The number of people seeking full time work fell by 13k.
Eurozone CPI steady in July
Daily Analysis - 19/08/2016