In July, employment remained broadly unchanged over the previous month in seasonally-adjusted terms, which was down from the 18,202 jobs (previously reported: +23,400) created in June and came in below market expectations that an additional 10,000 jobs would be created. The July reading comprised a significant increase in the number of part-time jobs (+22,100), which was almost completely offset by the drop in full-time positions (-22,200 jobs). Meanwhile, the number of total job seekers rose by 18,000 persons in July, which contrasted the 1,000 drop in new job seekers recorded in June. As a result, the unemployment rate rose to 5.1% in July, after remaining unchanged at 4.9% for a fourth consecutive month, overshooting market expectations that had the unemployment rate unchanged at 4.9%.
Unemployment picks up in July
August 11, 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.