Economy

Google Ad

Australia saw much stronger than expected full time jobs growth in July, however the employment change number was lower. The unemployment rate edged down to 5.3% with June employment revised higher suggesting shrinking spare capacity in the labor market.

 Australia Jobs July

Another positive number for Australia with spare capacity being absorbed quickly. The report suggests the momentum in growth combined with strong forward-indicators the labor market should continue to tighten in 2018. 

July 2018 Jobs Report For Australia 

  • Employment Change: -3.9 K expected 15K, prior +58.2K, revised from 50.9K
  • Unemployment Rate: 5.3% expected 5.4%, prior 5.4%
  • Full Time Employment Change: +19.3K prior was 43.2K, revised from 41.2K
  • Part Time Employment Change: -23.2K prior was 15K, revised from 9.7K
  • Participation Rate: 65.5% expected 65.7%, prior was 65.7% 

Australia Jobs July population ratio

Trend Report

  • Trend unemployment rate 5.4%
  • Trend employment increased by 27,000 full-time employment +18,000
  • Trend participation rate remained steady at 65.5%, June revised down
  • Year on year trend employment increased by around 300,000 or 2.4%,
  • Above average year-on-year growth over the past 20 years of 2.0%
  • Trend monthly hours worked +0.2% m/m & +1.9% y/y

Source: ABS, HCBC

From a Sunburnt Country

Log in to comment
Discuss this article in the forums (2 replies).