Australia: Unemployment rate inches down in July
August 17, 2017
Seasonally-adjusted employment increased by 27,900 jobs in July compared to the previous month, up from the 20,000 new jobs created in June. July’s figure overshot analysts’ expectations of 20,000 new jobs. The rise in employment reflects an increase of 48,200 in part-time positions in July (June: -49,300), while the number of full-time positions fell by 20,300 in the same month, contrasting the 59,300 full-time positions that were created in June.
The labor market participation rate edged up to 65.1% in July (June: 65.0%), which led the unemployment rate to edge down to 5.6% (June: 5.7%).
Author: Christopher Mc Innes, Economist