Australia: Unemployment rate inches up in June
July 10, 2015
In June, the labor market gained 7,300 jobs compared to the previous month, in seasonally-adjusted terms. The increase was less pronounced than last month’s increase of 40,000 jobs (previously reported: 42,000 jobs) and surprised analysts who had predicted an increase of 12,300 jobs. The result was driven by a 24,500 rise in full-time employment and a decrease in the number of part-time positions by 17,200.
The labor market participation rate inched up to 64.8% in June from 64.7% in May. Despite the mild increase in the number of jobs, the unemployment rate rose 0.1 percentage points to 6.0% in June.
Author: Robert Hill, Economist