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Australian employment bounces back in August

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Published Thu, Sep 15, 2022 · 10:32 AM
    • Australia's net employment rose 33,500 in August, in line with market forecasts and mostly reversing a 41,000 fall in July.
    • Australia's net employment rose 33,500 in August, in line with market forecasts and mostly reversing a 41,000 fall in July. PHOTO: AFP

    AUSTRALIAN employment bounced back in August after a surprise dip the month before and the jobless rate edged up just a tick from a 48-year low, underlining the resilience of the labour market in the face of rising interest rates.

    Figures from the Australian Bureau of Statistics on Thursday showed net employment rose 33,500 in August, in line with market forecasts and mostly reversing a 41,000 fall in July.

    The jobless rate inched up to 3.5 per cent, from 3.4 per cent, but only because more people went looking for work and remained comfortably below most estimates of full employment. REUTERS

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