South Australian jobless rate for June rises to 5.9 per cent

South Australian jobless rate for June rises to 5.9 per cent

South Australian jobless rate for June rises to 5.9 per cent

Australian full-time employment surged in June but the jobless rate stayed stuck at 5.2% for a third straight month as more people looked for work, a sign of spare capacity that argues for more policy stimulus.

"Putting the pieces together, another rate cut appears more likely than not", Indeed's Mr Pickering said.

Callam Pickering at job site Indeed said the figures, while again underwhelming, were unlikely to change the RBA's immediate outlook as it pushed towards a 4.5 per cent unemployment target. "November is the most likely month, aligning policy with an updated set of RBA forecasts".

Participation Rate: % expected 65.9%, prior was 66.0%.

A slight decrease in the seasonally adjusted participation rate - or the proportion of people in work or looking for it - from record highs prevented the unemployment creeping higher.

"And with labour productivity falling, firms can not sustainably increase wages for workers without reducing their profit margins".

The bank cut its rates to a record low of 1.0 per cent early this month and futures markets are fully priced for another move to 0.75 per cent by early next year.

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Before the July cut, experts predicted another 0.25% cut by November, according to a Reuters poll.

Getting unemployment to 4.5% looks like a tough task as Thursday's data showed it held at 5.2% in June even though 21,100 full-time jobs were created in the month.

"The June Labour Force Survey reported a 500 gain in employment".

Over the year, unemployment rates fell in New South Wales, Victoria, Western Australia and the Australian Capital Territory, and increased in Queensland, South Australia, Tasmania and the Northern Territory. The jobless rate got as low as 4.9 per cent in February but has since been nudging higher.

The number of unemployed persons increased to 313,000 in June from 302,000 in the previous month.

The Australian dollar jumped slightly after the data's release from 70.21 United States cents to 70.26 USA cents, and again rose to 70.29 cents by 1417 AEST.

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