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Business

Jacob Shteyman

Strong jobs figures clock on for future rate rise shift

IG RBA Inflation Reserve Bank Jonathan Kearns Tony Sycamore

Further rate rises could be on the cards after a jump in employment exceeded expectations. (Susie Dodds/AAP PHOTOS)

Stronger-than-expected jobs and spending data has bolstered the case for more rate hikes, but events overseas could stay the Reserve Bank's hand.

An extra 40,300 jobs were added to the economy in May, driving down the unemployment rate to 4.4 per cent, the Australian Bureau of Statistics reported on Thursday.

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