Australian employment report for January
Employment Change: +29.1K
expected +30K, prior +50K
Unemployment Rate: 6.4%
expected 6.5%, prior 6.6%
Full-Time Employment Change: +59.0K
prior was 35.7K
Part-Time Employment Change: -29.8K
prior was 14.3K
Participation Rate: 66.1%
expected 66.2%, prior was 66.2%
Pretty much expected job gains and the jobless rate is lower ... yes the participation rate is lower but the screaming headline will be lower u/e rate.
- Underemployment rate decreased to 8.1%.
- Monthly hours worked decreased by 86 million hours, Decreased by 5.7% over the year
This graph from the Australian Bureau of Statistics shows how quick the recovery in jobs has been:
Jobs are still below their pre-crisis peak but not by a lot. As fiscal support is pulled away from the economy though there is a test ahead.