New Delhi, July 17 -- The Australian labour market is at a tense moment, according to data by the Australian Bureau of Statistics (ABS). It shows that the unemployment rate rose to 4.2 per cent in June, posing a worrying situation for both policymakers and the Australian dispensation.
The labour market data for June highlights an ambiguous picture as the full-time jobs fell by 38,200, while there is a noticeable spike in part-time work. Economists also pointed out the tariff uncertainties, China's economic slowdown, and domestic Australian factors, including weak business pricing and soft wage growth for the rise in unemployment rates.
Interestingly, the Reserve Bank of Australia is still holding the cash rate at 3.85 per cent while fina...