On August 15, Guolonhui reported that Australia's employment growth in July exceeded expectations, and the expanding workforce pushed up the unemployment rate, highlighting the labor market's resilience to rising interest rates. Data released by the Australian Bureau of Statistics on Thursday showed that employment rose by 0.0582 million people, well above the market's expected 0.02 million, mainly driven by growth in full-time positions. The unemployment rate rose slightly to 4.2%, and the employment participation rate soared to a historical high of 67.1%. The Australian dollar and the yield of three-year policy-sensitive government bonds recovered from the earlier decline as traders lowered their expectations of an interest rate cut by the Reserve Bank of Australia. The currency market now expects that the easing cycle of the Reserve Bank of Australia will begin in December. "Despite the 0.1-percentage-point increase in the unemployment rate in each of the past two months, the record-high participation rate and the number of people employed, looking for work and finding work, indicates that there are still many jobs," said Kate Lamb, head of labor statistics at the Australian Bureau of Statistics,"Employment growth is faster than population growth."