Australia employment bounces back in August

SYDNEY, (Reuters) – Australian employment bounced back in August after a surprise dip the month before and the jobless rate edged up just a tick from a 48-year low, underlining the resilience of the labour market in the face of rising interest rates.

Figures from the Australian Bureau of Statistics on Thursday showed net employment rose 33,500 in August, in line with market forecasts and mostly reversing a 41,000 fall in July. The jobless rate inched up to 3.5%, from 3.4%, but only because more people went looking for work and remained comfortably below most estimates of full employment.