Australian Dollar Analysis: AUD/USD Gyrates Following Mixed Jobs Data
2021-05-20 02:00:00
Brendan Fagan,
AUD/USD, AU Employment Talking Points
Australian employment change comes in at -30,600 against a previous gain of 77,000
The Australian unemployment rate falls to 5.5%, however labor force participation also dropped
AUD/USD pushed lower Wednesday following a wave of risk-off sentiment across all asset classes
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Australian employment data largely disappointed on Thursday as total employment decreased by 30,600 jobs, against an expected gain of 15,000 jobs for April. Despite the miss, the country’s unemployment rate dropped to 5.5%, down 0.2% from March. Perhaps a green shoot in the reading was the gain in full-time employment, which grew in April by 33,800. Of note, the end of the domestic “JobKeeper” subsidy program will present a headwind to further significant employment gains. Experts labeled the program as a key factor in the sharp decline in Australi