Aussie Unemployment Rate beats expectations, now below 5%, AUD bullish

Australia’s June labour force survey is out as follows:

Employment +29.1k s/adj (Reuters poll: +30.0k)

Unemployment Rate +4.9 pct, s/adj (Reuters poll: +5.0) (Bullish for AUD).

Full Time Employment +51.6k s/adj

Participation Rate +66.2 pct, s/adj (Reuters poll: +66.3 pct)

With regard to June's Weekly Payrolls, they confirmed a recovery from the May Victoria lockdowns, and the Labour Force survey was conducted too early to pick up NSW lockdown.

The recovery in employment has also seen participation surge to a record high.

AUD/USD update

AUD/USD has moved a few pips higher but the fact that the UR is now below 5% should be bullish for AUD going forward. 

More to come ... 

About the Employment Change 

The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).