The two 'headlines' for the Australian employment market report are employment change and unemployment
Employment Change: +16.0K ... little beat
- expected 15.0K, prior 33.5K, revised from 34.7K
Unemployment Rate: 5.5% ..... in line
- expected 5.5%, prior 5.6%, revised from 5.5%
Full Time Employment Change: -49.8K ...whoops ... this'll be a negative for the bulls
- prior was +12.7K, revised from +15.1K
Part Time Employment Change: +65.9K
- prior was +20.7K, revised from +19.5K
Participation Rate: 65.6% (participation hits 7 year high)
- expected 65.6%, prior 65.7%
The above are seasonally adjusted data, which is the focus. But the 'trend' data is essential to be aware of also, I'll get that up ASAP
Here we go ... trend data:
Employment change +23K in January
- +3.3% y/y
Unemployment 5.5%
Full-time employment +9K
Part-time employment +14K
Trend monthly hours -0.1%
- +2.7% y/y
More (commentary from ABS):
Full-time employment has now increased by around 292,000 since January 2017 and makes up the majority of the 395,000 net increase in employment over the period. In line with the increasing female participation in the labour force, female full-time employment accounted for 55 per cent of the full-time employment growth over the past year.
Over the past year, trend employment increased by 3.3 per cent, which is above the average year-on-year growth over the past 20 years (1.9 per cent). "Prior to the past two months, the last time it was 3.3 per cent or higher was back in February 2008, before the Global Financial Crisis" Mr Jarvis said.
AUD down a few points on the data
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