Australian Aug jobs downbeat, mainly on part-time declines

Ivan Delgado Independent Analyst

Australia employment change s.a. came in at -3.9k in August, below forecasts of +15k and prior of 26.1k, with the unemployment rate s.a. at 5.6 % vs forecasts of 5.7% and 5.7% last. Fulltime employment stood at 11.5k vs previous -45.4 k, while part-time employment -15.4k from previous 71.6k. Participation rate was 64.7% vs prior of 64.9%.

AUGUST KEY POINTS

TREND ESTIMATES (MONTHLY CHANGE)

Employment increased 9,900 to 11,965,100.
Unemployment decreased 400 to 721,000.
Unemployment rate remained steady at 5.7%.
Participation rate remained steady at 64.8%.
Monthly hours worked in all jobs increased 1.7 million hours to 1,657.1 million hours.

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

Employment decreased 3,900 to 11,963,700. Full-time employment increased 11,500 to 8,166,100 and part-time employment decreased 15,400 to 3,797,700.
Unemployment decreased 10,500 to 713,300. The number of unemployed persons looking for full-time work increased 14,900 to 496,900 and the number of unemployed persons only looking for part-time work decreased 25,400 to 216,400.
Unemployment rate decreased 0.1 pts to 5.6%.
Participation rate decreased 0.2 pts to 64.7%.
Monthly hours worked in all jobs decreased 3.9 million hours to 1,656.0 million hours.

Author

Ivan Delgado

Independent Analyst

Established in the Asian continent since 2009, Ivan studied a degree in Business at the University Pompeu Fabra (Barcelona), while also earning a postgraduate degree in Business Administration.

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