In April, the labour market added 15,500 jobs over the previous month in seasonally adjusted terms, which was a moderation compared to the 37,600 new hires in March (previously reported: +44,900 jobs) but defied market expectations that 5,500 jobs would be lost. The reading reflected a strong increase in part-time positions (+26,000), which more than compensated for a drop in full-time jobs (+10,500). Meanwhile, the number of total job seekers dropped by 28,800 persons in April (March: -3,600). As a result, the unemployment rate fell from 5.2% in March to 4.9%, contrasting market expectations of a 5.3% rate and marking the lowest reading in a year.
Unemployment rate drops in April
May 10, 2012
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Australia Unemployment Chart
Note: Seasonally adjusted unemployment rate in % and new jobs in thousands.
Source: Australian Bureau of Statistics.
Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.