Australia Jobless Rate Hits Five-Year High
Australias jobless rate unexpectedly rose to a five-year high of 4.6 percent in August despite a solid rebound in employment. Markets maintain high expectations for an imminent interest rate hike by the central bank to combat persistent inflation pressures.
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Australia's jobless rate unexpectedly rose to 4.6% in August, hitting a five-year high as net employment rebounded by 39,500. The reading exceeded market forecasts for a steady 4.5% print amid an increase in labour force participation. Markets continue to price in a 95% probability of a rate hike next week.
