Australia's unemployment rate hit 4% in December, complicating the Reserve Bank's interest rate decision.

Australia's unemployment rate rose to 4% in December, despite adding 56,000 jobs, more than expected. This robust jobs market may delay the Reserve Bank of Australia from cutting interest rates in February. While the participation rate hit a record high of 67.1%, full-time jobs decreased while part-time jobs surged. Economists are divided, with some predicting an eventual rate cut due to inflation slowing, while others believe the strong labor market indicates no immediate need for a reduction.

2 months ago
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