Australia saw stronger than expected full-time employment as part time jobs fell in April. Unemployment fell again to 5.5%. Participation eased off record high participation 66.3% to 66%, Underemployment the lowest in 7 years at 7.8%.
Australia saw stronger than expected full-time employment as part time jobs fell in April. Unemployment fell again to 5.5%. Participation eased off record high participation 66.3% to 66%, Underemployment the lowest in 7 years at 7.8%.
Highlights
- Employment Change: -30.6K vs. expected 20K, prior +77K revised from +70.7K
- Unemployment Rate: 5.5% vs. expected 5.6%, prior 5.7% revised from 5.6%
- Full-Time Employment Change: +33.8K vs. prior was -20.8K
- Part-Time Employment Change: -64.4K vs. prior was 91.5K
- Participation Rate: 66.0% vs. expected 66.3%, prior was 66.3% a record high
- Underemployment dropped to 7.8% from 7.9%
Australia Labour Market Report For April 2021
Highlights
Employment Change: Employment unexpectedly fell 30,600 to 13.04 million, missing forecasts of a 15,000 gain, with part-time employment decreasing 74,400 while full-time employment rising by 33,800.
Unemployment Rate: 5.6% v expected 5.7%, prior 5.8%
Lowest in a year
The number of unemployed declined 33,600 to 756.2 thousand, as people looking for full-time work was down by 26,000 to 527,100 and those looking for only part-time work decreased by 7,500 to 229,200.
Full-Time Employment Change: +33.8K v prior 89.1K
Part-Time Employment Change: +91.5K v prior -0.5K
Participation Rate: The participation rate unexpectedly dropped 0.3 points to 66.0 percent, missing forecasts of 66.3 percent.
- Underemployment The underemployment rate fell 0.2 points to 7.8 percent, lowest in nearly 7 years
- underutilization rate decreased 0.4 points to 13.3 percent. Monthly hours worked in all jobs fell 13 million, or 0.7%, to 1,793 million hours
- Employment-to-population ratio increased by 0.3 pts to 62.6%, and rose by 0.1 pts compared to same time last year
Source: ABS, Trading Economics
The TradersCommunity News Desk
From a Sunburnt Country