Australia August employment data blows past expectations

The official data released this Thursday morning showed the Australian economy added far more jobs in August than expected.

Key points

• Employment Change +54.2K, expected +15.0K, previous +27.9K
• Unemployment Rate 5.6%, expected 5.6%, previous 5.6%
• Full Time Employment Change +40.1, previous -19.8K
• Part Time Employment Change +14.1K, previous 48.2K
• Participation Rate 65.3%, expected 65.1%, previous 65.1%

The data is positive for the AUD. The 10-year Aussie government bond yield jumped to 2.743%; up more than 6 basis points and at the highest level since August 31.