Australia employment contracted -227.7k in May, unemployment rate jumped to 7.1%

<p>Australia employment contracted -227.7k in May, nearly double of expectation of -125.0k. After the decline, 12.2m people were employment. Full-time jobs dropped -89.1k to 8.54m. Part-time jobs dropped -138.6k to 3.62m. Unemployment rate rose 0.7% to 7.1%, worse than expectation of 7.0%. That’s also the highest level in 19 years since October 2001. Participation rate […]</p>
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