Australian employment report for January

Employment Change: -12.2K

  • expected -5K, prior +42.3K, revised from +37.4K

Unemployment Rate: 6.4 %

  • expected 6.2%, prior 6.1%

Full Time Employment Change: -28.1 K

  • prior was 46.4K, revised from +41.6K

Part Time Employment Change: +15.9 K

  • prior was -4.1K

Participation Rate: 64.8%

  • expected is 64.7%, prior was 64.8%

Poor result for the employment data .. AUD lower on it

The seasonally adjusted data was screwed up last year and I still am very wary of it .... the 'trend' data is probably the best to focus on

From the Australian Bureau of Statistics ....

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Note the trends, then ...

  • Employment is rising
  • But so is unemployment

Job growth is not enough to absorb those wanting to work