Australian employment report for May is a solid one. Jobless rate unchanged, participation up, full-time jobs higher again.

Employment Change: +60.6K

  • expected +25K, prior +4K

Unemployment Rate: 3.9%

  • expected 3.8%, prior 3.9%

Full-Time Employment Change: +69.4K

  • prior was 92.4K

Part-Time Employment Change: -8.8K

  • prior was -88.4K

Participation Rate: 66.7%, highest ever in the survey

  • expected 66.4%, prior was 66.3%

More:

  • Hours worked up.
  • The underutilisation rate (combines unemployment & underemployment) is at 9.6%, a 40 year low.

The rotation from part-time to full-time work continues, this is a solid sign also.