By Stella Qiu SYDNEY (Reuters) - Australia's employment surged in August while its participation rate hit a record high and the jobless rate held ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSYDNEY - Australia's employment surged in August while its participation rate hit a record high and the jobless rate held steady, in a sign that decade-high interest rates have yet to soften demand in the drum-tight labour market.
The jobless rate held steady at 3.7%, matching forecasts from analysts, while the participation rate surged to 67.0%, the highest since records began in 2013. The crunch has heightened tensions between businesses who are calling for migrants to fill persistent labour shortages and workers who point out sky-high inflation is eating into real wages.
While some in industry agreed with Gurner's comments, others such as U.S. lawmaker Alexandria Ocasio-Cortez pointed out a growing discrepancy between executive and employee pay.
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