Australia lost 3.9k jobs in August - BBH

Research Team at BBH, notes that the Australia reported that it lost 3.9k jobs in August against the market expectations of a 15k increase. 

Key Quotes

“However, full-time jobs grew 11.5k.  The unexpected decline in the unemployment rate from 5.7% to 5.6% was a function of the unanticipated decline in the participation rate to 64.7 (from 64.9).  The participation rate matches the lowest since November 2014. The Australian dollar is flat as it continues to consolidate the large (1.3%) loss on Tuesday.  Since then, it has been unable to resurface above the previous support near $0.7500.”