Uh, What's Up With Australian Employment Data?

<p>&nbsp;Australian employment unexpectedly rebounded in August following a surprise fall the previous month, signaling the labor market was able to absorb the impact of the central bank's interest rate hike.</p><p><br /></p><p>The economy added 64,900 jobs last month compared to expectations for an increase of 25,000 jobs, according to data released by the Australian Bureau of Statistics (ABS).</p><p><br /></p><p>Meanwhile, the unemployment rate remained unchanged at 3.7% as expected.</p><p><br /></p><p>The Aussie dollar hit a one-week high of 0.6435 against the greenback, supporting the case for the Reserve Bank of Australia (RBA) to keep interest rates at record levels.</p><p><br /></p><p><br /></p><p>The governor who will replace Philip Lowe, Michele Bullock, has warned that policy decisions will be made month by month until at least next year.</p><p><br /></p><p>The RBA has kept interest rates unchanged at 4.10% for four consecutive months in September.</p><p><br /></p><p>The Aussie dollar's gains, however, remained limited as the US dollar continued to strengthen after US inflation data was published.</p>