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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Australian Unemployment Rate Reached a 14-month High

March, 16 2017
watermark Economic news

The unemployment rate in Australia reached a 14-month high as it increased by 5.9% in February. It failed to meet the anticipated rate of 5.7%. This makes is a little bit worrisome to the economy as employment became sluggish between the months of December and January as well as the increase in wages to be slow for the past years. Hence, it is expected for the employment growth to be moderate and reached around 6% figure growth for the year.

If so happen that the unemployment rate suddenly rose, this could induce the Reserve Bank of Australia to cut rates. They are also dedicated to establish suited policy frameworks that will support stronger jobs growth, bringing opportunities for new jobs. Moreover, a positive outlook with a growth of 2 percent or slightly higher, according to the Westpac-Australian Chamber of Commerce and Industry survey.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.