In May, the economy added 7,800 jobs in seasonally-adjusted terms, which contrasted the loss of 29,500 jobs (previously reported: -22,100) in April but came short of market expectations that an additional 25,000 jobs would be created. The May reading comprised a significant reduction in the number of full-time jobs (-22,000), which was more than offset by the increase in part-time positions (+29,800 jobs). Meanwhile, the number of total job seekers rose by 8,900 in May, marking the first increase in the number of unemployed after three consecutive drops. Finally, the unemployment rate was unchanged at 4.9% for a third consecutive month, matching market expectations.
Unemployment stable in May for a third consecutive month
June 9, 2011
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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.