Unemployment has seen a larger-than-expected rise in June.
New figures from the Australian Bureau of Statistics have revealed that the jobless rate rose to a seasonally adjusted 6% in June, compared to a downwardly revised 5.9% in May. In trend terms, unemployment stayed at a steady 5.9%.
An AAP survey of economists had tipped unemployment to rise, but expected the jobless rate to sit at 5.9%. The participation rate narrowly outperformed economists' expectations, though. Economists predicted the participation rate to remain static at 64.6%, but ABS figures show it crept up to 64.7%.