Economy / 19 July 2024
The unemployment rate ticks up
![unseen-studio-s9CC2SKySJM-unsplash unemployment](http://www.thesquiz.com.au/wp-content/uploads/2024/07/unseen-studio-s9CC2SKySJM-unsplash-1024x683.jpg)
The Bureau of Stats’ latest jobs numbers are in, showing unemployment rose in June to 4.1%, up from 4% in May – even though about 50,200 new jobs were created in the month. There were a lot of eyes on the data yesterday because it’s one of the key figures important to the Reserve Bank ahead of its next interest rate decision on August 6. And you won’t be surprised to know there’s been plenty of commentary… Many economists say the higher-than-expected number of new jobs added – most of which are full-time gigs – offsets the higher unemployment rate, making the data “neutral” as far as the Reserve Bank will be concerned… Oxford Economics’ Ben Udy says “by far the more important thing will be the inflation data which will come up on the 31 July”. Dying to see that…
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