Central Bank of Australia may again reduce interest rate due

Australia's unemployment rate rose to 5.3 per cent in August, exceeding the Reserve Bank of Australia's target by almost one per cent. Economists had expected a figure of 5.2%. At the same time, last month the country recorded an increase in the number of jobs by 34,000 700, which was a record increase and was much higher than the expected increase of 15,000 places by economists. Nevertheless, there was a significant imbalance in the dynamics of employment changes in August. The number of full-time jobs fell by 15,500, while part-time vacancies rose by 50.2 thousand. Economically active citizens in the total population amounted to 66.2%, which was higher than the forecast of 66%. Incomplete use of production capacity reached 13.8%, increasing by 0.1%. Bloomberg agency notes that the current situation in the labor market may prompt the Australian Central Bank to lower the interest rate again.