Australia jobless rate matches decade high 6.0pc in June

SYDNEY, July 10 (Reuters): Australian employment posted a solid rise in June, beating  forecasts, but that did not prevent the unemployment rate from matching a decade peak of 6.0 per cent as more people went looking for work.

A net 15,900 jobs were created in June, topping market estimates of 12,000, data from the Australian Bureau of Statistics showed on Thursday. Full-time jobs dipped 3,800, but that followed a hefty gain in May.

The unemployment rate of 6.0 per cent was a tick above forecasts and matched the January reading, which had been the highest in a decade.

That soured hopes that the jobless rate had peaked for this cycle.

"It's a mixed bag. We're still generating positive jobs numbers and that's good, but equally we've hit the sticker-shock number of 6 per cent," said Michael Blythe, chief economist at Commonwealth Bank.

"The bottom line is the economy is strong enough to be generating positive jobs growth, but it does underline the RBA's point of view that it's going to be a pretty slow grind before the unemployment rate is back on a downtrend again."