In July, the labour market added 14,000 jobs over the previous month in seasonally adjusted terms, which contrasted the 28,300 lost in June (previously reported: -27,000 jobs) and exceeded market expectations of 10,000 new hires. The reading reflected increases both in full-time positions (+9,200), and in part-time jobs (+4,800). Meanwhile, the number of total job seekers dropped by 2,500 persons in July (June: +12,300). Despite the drop, the unemployment rate was unchanged at 5.2%, meeting market expectations.
Unemployment rate remains steady in July
August 9, 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.