Australian jobs report for August: Employment +111K (vs. expected -35K) Unemployment 6.8% (vs. 7.7%)

Australian labour market report shows an enormous beat

Employment Change: +111.0K

• expected -35K, prior +119.2k revised from +114.7K

Unemployment Rate: 6.8%

• expected 7.7%, prior 7.5%

Full Time Employment Change: +36.2K

• prior was +38.9k, revised from +43.5K

Part Time Employment Change: +74.8K

• prior was +80.3k, revised from +71.2K

Participation Rate: 64.8%

• expected 64.6%, prior was 64.7%

In August Australia's second-largest city, Melbourne, was in a harsh lockdown, much more restrictive than the first lockdown. These results are quite stunning. There will be credulity issues raised.

more to come on a separate post

Background to this is here:

• Previews of the Australian jobs report due today - 17 September 2020