Australia: Strong job creation reduces unemployment in July
August 18, 2016
The labor market gained 26,200 jobs in July compared to the previous month in seasonally-adjusted terms. The increase was an improvement on June’s revised 10,800 jobs gained (previously reported: +7,900 jobs). The number of new positions beat market expectations of an 11,000 increase. July’s result reflected a strong increase in the number of part-time jobs, which grew by 71,600 (June: -33,200). The number of full-time positions, however, fell by 45,400 (June: +44,000).
In July, the labor market participation rate remained at June’s 64.9%. The unemployment rate inched down to 5.7% in July (June: 5.8%).
Author: Christopher Mc Innes, Economist