Aussie Unemployment beats expectations, AUD steady on the data

The ABS released Australia’s December labour force survey as follows:

• - AUSTRALIA DEC EMPLOYMENT +50.0K S/ADJ (REUTERS POLL: +50.0K)
• 20-Jan-2021 18:30:01 - AUSTRALIA DEC UNEMPLOYMENT RATE +6.6 PCT, S/ADJ (REUTERS POLL: +6.7)
• 20-Jan-2021 18:30:01 - AUSTRALIA DEC FULL TIME EMPLOYMENT +35.7K S/ADJ
• 20-Jan-2021 18:30:01 - AUSTRALIA DEC PARTICIPATION RATE +66.2 PCT, S/ADJ (REUTERS POLL: +66.2 PCT)

More to come....

Description

The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).