Australia May 2025 jobless rate 4.1% (vs. 4.1% expected) & Employment Change -2.5k(+25K)

Australian labour market report for May 2025

Employment Change -2.5K

• expected +25K, prior +89K

Full-Time Employment +38.7K

• prior +59.5K

Part-Time Employment -41.1K

• prior +29.5K

Unemployment Rate 4.1%

• expected 4.1%, prior 4.1%

Participation Rate 67.0%, just off a record high

• expected 67.1%, prior 67.1%

The disappointing number on jobs lost (2500 down) will be cushioned just a little but the replacement of part-time jobs by full time jobs. I suspect this report will do little to alter the prospect of an RBA rate cut at its next meeting. Pricing for this is a shade under 80%.

AUD is lower, but thats on the Bloomberg news of a US strike on Iran being considered for coming weekend:

The US is considering an attack on Iran this coming weekend

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The Reserve Bank of Australia next meet on July 7 and 8.

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