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Employment in Oz ticking higher – Danske Bank

FXStreet (Edinburgh) - Kasper Kirkegaard, Chief Analyst at Danske Bank, assessed today’s labour market releases in Australia.

Key Quotes

“In Australia, the unemployment rate increased to 6.4% and while technical factors can explain part of the jump in today’s report, it does not change the fact that Australia is moving against the trend of healing labour markets seen in most other developed economies”.

“As the mining boom has faded, the economy is struggling to rebalance. The AUD weakened about 0.6% on the report”.

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