Australia adds whopping 50,900 jobs in June, jobless rate steadies at 5.4%

Dhwani Mehta FXStreet

Australia unemployment rate steadied at 5.4 percent in June, even as the economy added a whopping 50,900 jobs, the latest data published by Australia Bureau of Statistics (ABS) showed this Thursday. The markets were expecting a job addition of 17,000. Employment for the previous month was 12,000 addition.

Meanwhile, full-time jobs came in at +41,200 compared to -20,600 seen in May. The part-time employment rose 9,700 versus 32,600 last. The participation rate rose to 65.7% in the reported month versus 65.5% previous.

June Key Points (Source: ABS)

Employment increased 26,900 to 12,562,800.

Unemployment decreased 1,200 to 719,000.

Unemployment rate remained steady at 5.4%.

Participation rate remained steady at 65.6%.

Monthly hours worked in all jobs increased 3.4 million hours (0.2%) to 1,752.0 million hours.

Seasonally adjusted estimates (Monthly change)

Employment increased 50,900 to 12,573,600. Full-time employment increased 41,200 to 8,565,200 and part-time employment increased 9,700 to 4,008,400.

Unemployment decreased 1,100 to 714,100. The number of unemployed persons looking for full-time work increased 5,100 to 501,900 and the number of unemployed persons only looking for part-time work decreased 6,100 to 212,200.

Unemployment rate remained steady at 5.4%.

Participation rate increased by 0.2 pts to 65.7%.

Monthly hours worked in all jobs increased 10.7 million hours (0.6%) to 1,750.7 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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