Australia adds whopping 44,000 jobs in August, a big beat on expectations

Dhwani Mehta FXStreet

Australia unemployment rate steadied at 5.3 percent in August, even as the economy added a whopping 44,000 jobs, the latest data published by Australia Bureau of Statistics (ABS) showed this Thursday. The markets were expecting a job addition of 15,000. Employment change for the previous month was -3900.

Meanwhile, full-time jobs came in at +33,700 compared to +19,300 seen in July. The part-time employment rose 10,200 versus -23,200 last. The participation rate rose to 65.7% in the reported month versus 65.5% previous.

August Key Points (Source: ABS)

Employment increased 29,000 to 12,620,700.

Unemployment decreased 2,700 to 711,900.

The unemployment rate decreased to 5.3%.

Participation rate remained steady at 65.6%.

Monthly hours worked in all jobs increased 2.5 million hours (0.1%) to 1,751.4 million hours.

Seasonally adjusted estimates (Monthly change)

Employment increased 44,000 to 12,631,300. Full-time employment increased 33,700 to 8,630,700 and part-time employment increased 10,200 to 4,000,600.

Unemployment increased 5,800 to 708,800. The number of unemployed persons looking for full-time work decreased 7,500 to 494,800 and the number of unemployed persons only looking for part-time work increased 13,200 to 214,000.

The unemployment rate remained steady at 5.3%.

Participation rate increased by 0.2 pts to 65.7%.

Monthly hours worked in all jobs increased 0.6 million hours (0.03%) to 1,750.9 million hours.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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