Aussie gains after Employment Change rises

Thursday, 7 July 2011 11:51

Australia has seen the biggest month-on-month gain in Employment change since middle of 2008.  The number of employed people in June rose by 23,400 individuals, an exciting result to economists who forecasted the report with 15,200 newly employed individual. 

The Australian Bureau of Statistics pointed data showing a 59,000 gain in full-time jobs, while part-time jobs fell by 35,600.  Umemloyment Rate was maintained the same at 4.9%.

The Aussie Dollar surged against the U.S Dollar after the news release, reaching as high as 0.0754 in the first few minutes and continued it's upward manner till 0.0760.  Before the news release the pair was trading at 1.0697.