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Australia: Labor market softens in June
Latest reading: The seasonally adjusted unemployment rate rose to 4.3% in June from 4.1% in May, above market estimates. The number of employed people rose by 2,000 in June in seasonally adjusted month-on-month terms, contrasting the 1,100 decline in May but also well below expectations.
Taken together, the data suggests the labor market softened at the end of the second quarter, suggesting recent central bank rate cuts have yet to fully ignite the economy.
