emirates7 - Bloomberg reported that Australia’s unemployment rate eased in July as employment grew, indicating a still-tight labour market and supporting the Reserve Bank’s cautious stance on policy easing.

According to Australian Bureau of Statistics data released Thursday, the jobless rate declined to 4.2 percent from June’s four-year high of 4.3 percent, in line with economists’ expectations. Employment increased by 24,500, entirely due to gains in full-time positions.