This HTML code represents the structure of an article about the recent employment figures released in Australia. The article, structured using HTML tags, provides information about the sharp rise in employment in June, the unchanged unemployment rate, and the implications of these figures for the Reserve Bank of Australia’s interest rate decision.This HTML code represents the structure of an article about the recent employment figures released in Australia. The article, structured using HTML tags, provides information about the sharp rise in employment in June, the unchanged unemployment rate, and the implications of these figures for the Reserve Bank of Australia’s interest rate decision. Here’s a breakdown of the code: 1. `
` tags: These tags enclose paragraphs of text in the article. 2. “: This is an HTML element used to define a section of the document. It is given an empty `id` attribute in this case. 3. `
` tags within the “: More paragraphs of text, providing details about the employment data, market expectations, and the impact on investors. 4. `
` tags with additional information: These paragraphs discuss the unemployment rate, participation rate, hours worked, and expert opinions. 5. `
` tags with quotes: These paragraphs include a quote from Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia, providing his perspective on the labor market. 6. `
` tags discussing the Reserve Bank of Australia (RBA): These paragraphs cover the RBA’s decision to leave rates unchanged in recent meetings, the debate on inflation, and the upcoming release of the consumer price report. 7. `
` tags comparing the RBA’s stance to other central banks: These paragraphs mention rate cuts by the European Central Bank and the Federal Reserve, and the likelihood of RBA easing in the future. 8. `
` tags discussing factors influencing the RBA’s decision: These paragraphs highlight the RBA’s concerns about the labor market slowdown, falling vacancies, and wage growth. 9. `
` tags for reporting and editing credits: These paragraphs provide information about the authors, editors, and their roles in the article’s creation. 10. “: This element defines the footer section of the article, but it remains empty in this code. 11. `
` tag with comment: This line uses an HTML comment (“) to mark a section of code as inactive or for future use. 12. “: This tag closes the “ element that was opened earlier. This HTML code provides a structured format for displaying the article’s content, including paragraphs, quotes, and information about the authors and editors. It follows proper HTML syntax and allows for easy readability and comprehension of the article’s content.
SYDNEY (Reuters) – Australia’s employment rose sharply in June, much more than expected. But the unemployment rate is still higher as more people have been looking for work. The report was mixed and leaves open the question of whether interest rates should rise further.
The data shifted investors’ expectations slightly toward a rate hike by the Reserve Bank of Australia in August, with swaps implying a 20% probability, up from 12% previously.
The yield on the three-year government bond rose 4 basis points to 4.019%, while the Australian dollar rose to $0.6735, after remaining flat earlier in the day.
Figures from the Australian Bureau of Statistics on Thursday showed net employment rose by 50,200 in June from May, beating market forecasts of 20,000. Full-time employment rose by 43,300 for the second month of strong growth.
The unemployment rate still edged up from 4.0% to 4.1%, compared with forecasts for a stable outcome. The participation rate rose to a near record high of 66.9%, while hours worked rose 0.8% as fewer workers than usual took vacations during the month.
“The labour market is softening, with the upward drift in the unemployment rate becoming more entrenched. But the market remains in a very tight position,” said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia.
“The current pace of employment growth suggests that demand is resilient and that cost pressures will continue. We think the RBA will stay the course and leave rates unchanged, but August is certainly a live meeting.”
The RBA has now left rates unchanged for five meetings in a row, but policymakers have questioned whether the current policy rate of 4.35% is restrictive enough given that inflation has remained high in the past quarter at 4%, above the target of 2-3%.
Much will depend on the second-quarter consumer price report due out on July 31, when inflation is expected to rise slightly and be higher than the central bank’s own forecasts.
Central banks around the world have already begun cutting or signaled they will. The European Central Bank cut in June, the Federal Reserve is expected to almost certainly cut in September, while the Reserve Bank of New Zealand only opened the door to easing this month.
As a result, swaps have scaled back their expectations for another rate hike by the RBA this year. However, the first easing is not expected until mid-next year, as interest rates have not risen as much here as in other countries.
The bar for raising the rate is also high, especially given the RBA’s concerns about a sharp slowdown in the labour market. The number of vacancies continued to fall from high levels, an employment gauge in a closely watched business survey showed no growth and wage growth clearly peaked.
(Reporting by Wayne Cole and Stella Qiu; Editing by Christopher Cushing and Stephen Coates)
