Australia July jobs -40.9K (expected +25K) & Unemployment rate 3.4% (expected 3.5%)

Australian July 2022 labour market report.

A big miss on headline jobs added but a beat on the jobless rate. Participation rate decline lower helps explain this.

The part-time number is +46K

• Unemployment rate lowest since September 1974
• Underemployment 6.0% (6.1% was the prior read)
• Underutilisation rate 9.4% (lowest since April 1982)
• Hours worked -0.8% from June

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The horror headline on jobs subtraction will be offset by the happy headline on a declining jobless rate. yes, we know its because of the pullback in participation and its not really good news, but headlines are headlines and they often rule market response initially.

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term