Australia August Employment Change: +34.7K (vs. expected 15K), U/e rate 5.3% (5.2% expected)

Author: Eamonn Sheridan | Category: News

Those two above are the 'headline' figures for the Australian employment report

Employment Change, +34.7K .... good beat 
  • expected 15K, prior 41.1K
Unemployment Rate, 5.3% .... comes in at a miss
  • expected 5.2%, prior 5.2%
Full Time Employment Change, -15.5K   -  will take some of the gloss off the jobs growth result
  • prior was 34.5K
Part Time Employment Change, +50.2K
  • prior was 6.7K
Participation Rate, 66.2% - job market growth attracting more into the labour market - this a record participation rate which should take some of the sting out of the u/e rate increase
  • expected 66.0%, prior was 66.1%

More, trend figures etc. (the above are the 'seasonally adjusted data, which the market pays immediate attention to):
  • trend unemployment 5.3%
  • trend participation rate 66.2
  • trend monthly employment increased by around 22,000 
  • Full-time employment increased by just over 7,000 
  • part-time employment increased by an estimated 15,000 
  • trend monthly hours worked increased by 0.1%
  • trend monthly underemployment rate 8.5%
  • trend underutilisation rate increased by 0.2 percentage points over the past year, comes in at 13.8%
I've updated separately on the AUD response (doesn't like it). This data is not great, but it ain't terrible. Participation is at a record high, that's gotta count for something. Ah well, not here to argue with the AUD!


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