Australia jobs report

Employment Change: +27.9K

  • for a beat on expected ... check out the loss in full-time jobs though (swings and roundabouts in this volatile data?)
  • expected 20.0K, prior +20K, revised higher from 14.0K

Unemployment Rate: 5.6%

  • expected 5.6%, prior 5.7%, revised from 5.6%

Full Time Employment Change -20.3K

  • prior was +69.3K, revised higher from +62.0 K

Part Time Employment Change +48.2K

  • prior was -48.0K

Participation Rate 65.1%

  • expected is 65.0%, prior was 65.0%

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The 'trend' data (& more) from the ABS:

  • Total increase in employment of 26K
  • Full-time employment +29K (full-time employment increased for the 10th straight month)
  • Part-time employment -3K
  • Trend monthly hours worked increased by 5.2 million hours (0.3 per cent) to 1,696.4 million hours in July 2017
  • Trend unemployment rate in Australia remained at 5.6 per cent in July 2017
  • Trend participation rate remained at 65.0 per cent
  • "Full-time employment has now increased by around 220,000 persons since September 2016, and makes up the majority of the 250,000 person increase in employment over the period," Chief Economist for the ABS, Bruce Hockman, said.
  • Over the past year, trend employment increased by 259,000 persons (or 2.2 per cent), which is above the average year-on-year growth over the past 20 years (1.9 per cent).
  • The rate of employment growth (2.2 per cent) was greater than the growth in the population aged 15 years and over (1.6 per cent), which was reflected in an increase in the employment to population ratio (which is a measure of how employed the population is). This ratio increased by 0.4 percentage points since July 2016, up to 61.4 per cent, the highest it has been since April 2013.

The Australian Bureau of Statistics says: Trend series smooth the more volatile seasonally adjusted estimates and provide the best measure of the underlying behaviour of the labour market.

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A decent report, coming on the back of strong reports in the previous 4 months. And, on a trend basis ... "full-time employment increased for the 10th straight month".

AUD ... well it had a great overnight ... seems to be a bit of profit taking into this release.