Stronger-than-expected hiring and a lower unemployment rate underline labor-market resilience, keeping open the possibility of further Reserve Bank of Australia tightening as policymakers battle inflation.
Australia added 40,300 jobs in May, beating expectations for about 32,000 new positions, while the unemployment rate fell to 4.4% from 4.5%. The stronger-than-expected labor-market data suggest the economy remains firm enough to leave the door open to further Reserve Bank of Australia interest-rate increases as it seeks to curb inflation.