Australian unemployment numbers

Two key indicators of the Australian workforce were released this morning at 9.30.

The unemployment rate remained at 5.8% beating estimates of 5.9%. The unemployment rate is the percentage of the workforce unemployed that is seeking employment actively and wanting to work.

In contrast, the unemployment change painted a red figure at -4.8 thousand jobs. Economists surveyed expected a creation of 10.3 thousand new jobs.

While new jobs created did not meet the estimates, a drop in unemployment is a sign of a healthy economy and a healthy economy will increase the value of the home currency.

At 9.30 am just before the numbers were out, the Aussie Dollar was at 0.93814 and currently hovering at 0.94048 which represents a rise of 0.249%.