In June, the labour market lost 27,000 jobs over the previous month in seasonally adjusted terms, which contrasted the 27,800 new hires recorded in May (previously reported: +38,900 jobs) and was down from market expectations that had employment remaining unchanged. The reading reflected a strong drop in full-time positions (-33,500), which was not fully offset by a rise in part-time jobs (+6,600). Meanwhile, the number of total job seekers increased by 7,200 persons in June (May: +21,200). As a result, the unemployment rate inched up from 5.1% in May to 5.2%, matching market expectations and marking the highest level in four months.
Unemployment rate rises June
July 8, 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.