Australia unemployment rate seen edging up in August, Moody's says
Moody's Analytics says Australia's unemployment rate likely rose to 4.6% in August from 4.5% in July, citing softer economic activity, effects from successive interest rate hikes, increased competition for vacancies and lower new job ads.
5% in July, Moody's Analytics said in a note. Moody's said economic activity is softening, partly because successive interest rate hikes have curbed demand. The firm also said vacancies are drawing far more competition and new job ads are trending lower.