Australian jobs surge as productivity debate heats up

The labour market, despite an 11-year high interest rate of 4.1%, saw an impressive gain of 410,700 net jobs in the past year.

The data from the Australian Bureau of Statistics showed net employment rose 64,900 in August from July, when they fell by an upwardly adjusted 1,400. Market forecasts had been for an increase of around 23,000. The labour market has proven remarkably resilient with 410,700 net jobs added in the 12 months to August even as interest rates have climbed 400 basis points to an 11-year high of 4.1%.The strong figures showed Australia’s jobs market is still extremely tight more than and a year-and-a-half after the economy shook off its Covid-era border restrictions.

Footage of his comments published by the Australian Financial Review on social media platform X were viewed more than 23 million times and sparked a backlash in Australia and abroad.

Source: Loan Digest (loandigest.net)

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inditex posts record earnings on strong Zara stores, online dealsThe world’s largest fashion retailer recorded a first-half profit of €2.51 billion, up from €1.79 billion last year.
Source: fmtoday - 🏆 5. / 72 Read more »

Major Australian lender NAB shuts Hong Kong officeAfter exiting Beijing last year, the decision will make Shanghai its only operating base in China.
Source: fmtoday - 🏆 5. / 72 Read more »

Toyota Hilux GR Sport on sale in Australia - widebody, uprated suspension with 224 PS/550 Nm; RM222kFollowing Toyota Australia’s debut of the Hilux GR Sport in January for the Australian market, the flagship double-cab pick-up truck how now gone on sale Down Under, priced from AUD73,990 (RM222k) before on-road costs. The …
Source: paultan - 🏆 22. / 51 Read more »

Interest may shift to O&G stocks following oil price surgeAnalyst expects benchmark index to hover within the 1,450-1,460 range today.
Source: fmtoday - 🏆 5. / 72 Read more »

Forest fires blanket several Indonesian provinces, causing surge in people falling illJAKARTA (The Straits Times/Asia News Network): Several provinces in Sumatra and Kalimantan have been blanketed with haze from raging forest fires that worsened in August, causing a surge in people with respiratory ailments such as sore throat and shortness of breath.
Source: staronline - 🏆 4. / 75 Read more »