Employment fell by 2,500, driven completely by part-time roles as full-time gained. — Bloomberg
SYDNEY: Australia’s economy surprisingly shed jobs in May although unemployment held steady as fewer people sought work, suggesting a slight loosening of the labour market and bolstering the case for the Reserve Bank of Australia (RBA) to reduce interest rates further.
Employment fell by 2,500, driven completely by part-time roles as full-time gained, against economists’ expectations for a 21,200 increase, data from the Australian Bureau of Statistics showed.
