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Business

Jacob Shteyman

Surprise jobs jump gives RBA room to raise rates

IG Unemployment Reserve Bank Susie Dodds Tony Sycamore SEEK Westpac

Latest figures have unemployment steady but show a big jump in the number of Australians in work. (Aap Images/AAP PHOTOS)

A surge in new jobs in Australia has given the Reserve Bank room to hike rates again as escalating conflict in the Middle East reignites inflation fears.

While the unemployment rate was in line with expectations at 4.4 per cent in June, a sharp rise in employment of 76,300 far exceeded consensus estimates of 15,000 new jobs.

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