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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%.

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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. 

 Australia Employment Change

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.

Australia Unemployment Rate

Full-Time Employment Change: +33.8K v prior 89.1K

Australia Full Time Employment Change

Part-Time Employment Change: +91.5K v prior -0.5K

 Australia Part Time Employment Change

Participation Rate: The participation rate unexpectedly dropped 0.3 points to 66.0 percent, missing forecasts of 66.3 percent.

 Australia Labor Force Participation Rate

  • 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

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