In August, the labour market shed 8,800 jobs over the previous month in seasonally adjusted terms. The figure contrasted the 11,700 gain recorded in July (previously reported: +14,000 jobs) and contrasted market expectations of 5,000 new hires. The reading reflected a drop in part-time positions (-9,300), combined with an almost unchanged number of full-time jobs (+600). Meanwhile, the number of total job seekers dropped by 10,600 persons in August (July: -6,000). As a result, the unemployment rate inched down from 5.2% in July to 5.1% in August, contrasting market expectations that the rate would inch up to 5.3%.
Unemployment rate inches down in August
September 10, 2012
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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.