NAB Sees Australia Unemployment Rate Dropping to 4.4% in August

Australia's unemployment rate is expected to dip to 4.4% in August, according to National Australia Bank, which forecasts a 20,000 rise in employment.

This would be a close call for the Reserve Bank of Australia (RBA), as July's jobless rate sat just below 4.5%, making it only a modest improvement needed for the published rate to tick lower.

NAB noted that labour demand indicators do not suggest any sharp change in conditions, leaving the outcome hinging on relatively small moves in the underlying data.