Investing.com – The rate of unemployment in Australia rose unexpectedly in July, official data showed on Thursday.
In a report, the Australian Bureau of Statistics said the rate of unemployment was a seasonally adjusted 5.3% in July, up from 5.1% in June.
Analysts had expected the rate of unemployment to remain unchanged at 5.1% in July.
The report attributed the rise in unemployment to an increase in the number of people entering the labor market.
Employers added a seasonally adjusted 23,500 new jobs in July, after adding 37,400 new jobs in June, whose figure was revised down from 45,900.
Analysts had expected 20,100 new jobs to be added in July.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD up 0.26% to hit 0.8995.
In a report, the Australian Bureau of Statistics said the rate of unemployment was a seasonally adjusted 5.3% in July, up from 5.1% in June.
Analysts had expected the rate of unemployment to remain unchanged at 5.1% in July.
The report attributed the rise in unemployment to an increase in the number of people entering the labor market.
Employers added a seasonally adjusted 23,500 new jobs in July, after adding 37,400 new jobs in June, whose figure was revised down from 45,900.
Analysts had expected 20,100 new jobs to be added in July.
Following the release of the data, the Australian dollar was up against its U.S. counterpart, with AUD/USD up 0.26% to hit 0.8995.