Economy

Google Ad

Australia saw much stronger than expected full and part time jobs growth in August, with the participation rate edging higher also. Trend unemployment is at its lowest since September of 2012. Participation highest since Dec of 2010.The unemployment rate stayed at 5.3%. 

 Australia Jobs Aug PNG

Australia Labour Market Report For August

  • Employment Change: +44K expected +18.0K, prior -3.9K
  • Unemployment Rate: 5.3% expected 5.3%, prior 5.3%
  • Full Time Employment Change: +33.7K prior +19.3K
  • Part Time Employment Change: +10.2K prior -23.2K
  • Participation Rate: 65.7% 65.6% expected, prior 65.5%
  • Trend unemployment rate fell from 5.4 per cent to 5.3 per cent
  • Trend participation rate remained steady at 65.6 per cent
  • Trend monthly hours worked increased by 0.1 per cent in August 2018 and by 1.8 per cent over the past year
--

ABS Chief Economist Bruce Hockman said that "since last August, the trend unemployment and underemployment rates have both fallen. As a result, underutilisation in Australia was at its lowest level since late 2013, at 13.6 per cent."

Trend employment increased by around 29,000 persons in August 2018 with full-time employment increasing by around 21,000 persons Over the past year, trend employment increased by around 300,000 persons or 2.5 per cent, which was above the average year-on-year growth over the past 20 years (2.0 per cent).

Australia Jobs Aug population ratio

Trend unemployment is at its lowest since September of 2012. Participation highest since Dec of 2010.

Source: ABS

From a Sunburnt Country

Log in to comment
Discuss this article in the forums (1 replies).