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  |  21/01/2021 00:32

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

  • Dec Employment +50.0k s/adj (Reuters poll: +50.0k).
  • Unemployment rate +6.6 pct, s/adj (Reuters poll: +6.7).
  • Full time employment +35.7k s/adj.
  • Participation rate +66.2 pct, s/adj (Reuters poll: +66.2 pct).

AUD/USD is steady on the data release, bid in the session by 0.12% at the time of writing at 0.7753. However, the Unemployment rate is moving in the right direction for Aussie bulls as it falls from the prior 6.8% with a higher participation rate vs prior 66.1%

Description of the Unemployment Rate

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).

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