Australia: Unemployment rate to hold flat at 5.5% - Westpac
|In the month Australian unemployment rose to 5.5% (5.55% at two decimal places vs. 5.41% in November) with a 0.2ppt gain in participation driving a further 55.16k surge in the labour force, notes the research team at Westpac.
Key Quotes
“This surge in participation has been driven mostly by the incredible jump in females to a new high of 60.6%.”
“Female employment lifted on the back of strong growth in the services sectors. Of the top five sectors for employment in 2017, four have a higher than average share of female employees. And this robust demand for labour has drawn more females into the workforce and/or encouraged others to extend their working life. That is as demand for female labour has risen, so too has supply.”
“We do see a small pullback in participation, from 65.7% to 65.6%, which moderates the January gain in the labour force. Thus the +15k on employment will see the unemployment rate hold flat at 5.5%.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.