Australian June employment: Full-time employment soars, participation rate up
|Australian June employment report came better-than-expected, if one considers the number of full-time job created. While the employmet change came slightly below expectation at 7.9k vs 10k exp and 17.9k prior, full time jobs saw an increase of 38.4k vs 0 prior, while part time jobs came at -30.5k vs 17.9k last. The participation rate stood at 64.9% vs 64.8%, while the unemployment rate was 5.8 vs 5.7% last.
JUNE KEY POINTS
TREND ESTIMATES (MONTHLY CHANGE)
- Employment increased 8,300 to 11,933,400.
- Unemployment decreased 200 to 725,900.
- Unemployment rate remained steady at 5.7%.
- Participation rate remained steady at 64.8%.
- Monthly hours worked in all jobs decreased 0.7 million hours to 1,635.1 million hours.
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)
- Employment increased 7,900 to 11,939,600. Full-time employment increased 38,400 to 8,198,900 and part-time employment decreased 30,600 to 3,740,700.
- Unemployment increased 9,900 to 734,200. The number of unemployed persons looking for full-time work decreased 9,200 to 496,700 and the number of unemployed persons only looking for part-time work increased 19,000 to 237,500.
- Unemployment rate increased by 0.1 pts to 5.8%.
- Participation rate increased by less than 0.1 pts to 64.9%.
- Monthly hours worked in all jobs decreased 4.3 million hours to 1,640.0 million hours.
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