Australia’s Job Gains Show Economy Absorbing RBA Rate Hikes

The economy added 64,900 roles from the prior month — driven primarily by part-time jobs — compared with estimates for a 25,000 gain.

The jobless rate held at 3.7% as the labor force swelled, having hovered in a range of 3.4%-3.7% . The data bolster the case for the Reserve Bank to hike one more time given inflation remains elevated and the labor market is still tight.