Australia’s labour market shows resilience despite May job dip - recap ...Middle East

Unemployment rate held steady at 4.1%, where it's been for over a year.

Participation rate edged lower to 67.0%.

Reuters convey remarks from Oxford Economics saying the dip reflects a normalisation after April’s surge, not a sudden downturn. Markets saw little impact, with rate cut expectations for July unchanged.

The RBA has already delivered two cuts this year, bringing the cash rate to 3.85%, as inflation eases and growth stays weak. Investors continue to price in around 70bps of further easing by year-end, with the jobless rate expected to peak only slightly higher at 4.3%.

This article was written by Eamonn Sheridan at www.forexlive.com.

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