Australia’s labour-market momentum remained firm in July, with total employment rising by 24,500 and the unemployment rate edging down to 4.2% from 4.3%. The headline figure masked a sharp swing toward more secure work as full-time positions increased by 60,500 while part-time roles fell by 35,900. The participation rate eased to 67.0%, just below economists’ expectations. The jobs release followed Wednesday’s wage data showing the second-quarter Wage Price Index advanced 3.4% from a year earlier, matching the prior quarter and topping the 3.3% consensus. On a quarterly basis wages rose 0.8%, in line with forecasts. The combination of resilient wage growth and a solid labour print reinforced market expectations that the Reserve Bank of Australia will remain cautious about loosening policy. Traders pushed the Australian dollar 0.3% higher to US$0.6566, its strongest level since 28 July, after the data were published.