Australia: Unemployment rate inches up in June
July 13, 2016
The labor market gained 7,900 jobs in June compared to the previous month, in seasonally-adjusted terms. The increase was an improvement compared to May’s revised 19,200 jobs gained (previously reported: +17,900 jobs month-on-month). The number of new positions was in line with market expectations. June’s result reflected an increase in the number of full-time jobs, which grew by 38,400 new jobs (May: +2,500 jobs). The number of part-time positions however, fell by 30,600 jobs (May: +16,600 jobs).
The labor market participation rate inched up in June to 64.9% from Mays 64.8%. The unemployment rate climbed to 5.8% in June, up from 5.7% in May.
Author: Robert Hill, Economist