Australia adds 42,000 jobs in May, flying past 10,000 estimated

by Dramelin 11:30 PM 0 comments

Australia added a whopping 42,000 jobs in May, flying past the 10,000 additions that analysts in a Reuters poll estimated, the Australian Bureau of Statistics said Thursday.
Unemployment rate for May was at 5.
5 percent, also coming in lower than the projected 5.
The Australian dollar strengthened following the release of the country`s latest employment data at 9:30 HK/SIN, trading 0.
5 percent higher against the greenback.
Australia`s employment figures have traditionally been volatile but the trend in recent months has pointed to an improvement in the labor market, Steven Milch, chief economist at Suncorp, told CNBC`s "Squawk Box.
" "It`s certainly strong.
It`s the third consecutive month of strong numbers, stronger than what we were expecting," he said.