(MENAFN) Australia's business market powered for a fourth month in June led by a noteworthy comeback in full-time jobs - an upbeat sources that could bring nearer the day when the country's central bank once begins considering a rate hike.
AMP Capital Chief Economist Shane Oliver said that '' That's a sign of strength in the labor market,'' and also ''For those looking for an imminent rate hike by year end, it supports their case.''
''They're not saying that they're going to do that tomorrow but I think they're sending a signal which is probably prudent, which is to say: 'Ladies and gentlemen just be aware rates are more likely to go up than go down.''
The unemployment rate steadied at 5.6 percent as 14,000 new jobs were added.c that what Thursday's data from the Australia Bureau of Statistics (ABS) showed.
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