Australia’s July employment report: Mixed reading, full time jobs drop sharply
|Australian July employment report came mixed, with the employment change at 27.9k vs 20k exp and 14k prior, with full time job creation at -20.3k vs 69.3k (revised higher) last, while part time jobs came at 48.2k vs -48k last. The participation rate ticked higher to 65.1%, while the unemployment rate was 5.6%vs 5.6% exp and 5.7% (revised from 5.6%) last
JULY KEY POINTS
TREND ESTIMATES (MONTHLY CHANGE)
Employment increased 26,000 to 12,196,900.
Unemployment decreased 1,800 to 726,000.
Unemployment rate remained steady at 5.6%.
Participation rate increased by less than 0.1 pts, but remained at 65.0% in rounded terms.
Monthly hours worked in all jobs increased 5.2 million hours (0.3%) to 1,696.4 million hours.
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)
Employment increased 27,900 to 12,201,400. Full-time employment decreased 20,300 to 8,342,300 and part-time employment increased 48,200 to 3,859,100.
Unemployment increased 1,100 to 730,600. The number of unemployed persons looking for full-time work decreased 3,800 to 496,400 and the number of unemployed persons only looking for part-time work increased 4,900 to 234,200.
Unemployment rate decreased by less than 0.1 pts to 5.6%
Participation rate increased by 0.1 pts to 65.1%.
Monthly hours worked in all jobs decreased 14.4 million hours (0.8%) to 1,690.4 million hours.
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