The Australian Bureau of Statistics confirmed the growth was driven largely by a 35,200 increase in part-time roles, while full-time employment saw a more modest gain of 5,200. This uptick indicates a resilient economic rhythm, recovering momentum after a period of relative quiet during the Easter holiday in April.
In section Market Quotes
Australian Unemployment Dips as Hiring Surges Past Forecasts
Unexpected strength in the labor market emerged this May as Australia’s jobless rate ticked down to 4.4% from 4.5%. Despite the central bank’s aggressive interest-rate hikes designed to cool inflationary pressure, employers added 40,300 positions, significantly outpacing the 32,000 jobs analysts had projected for the month.
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