Australia jobless rate hits near 5-year high of 4.5% in July
By Aboki Forex —
Australia's unemployment rate rose to 4.5% in July, hitting a near five-year high. This follows solid employment growth in June.
Data details
The jobless rate reached 4.5% in July, the highest level in almost five years. The reading points to cooling in the Australian labour market.
Context
The latest figure comes after the Australian economy recorded solid employment growth in June. That earlier strength did not carry into July.