Australia: Unemployment rate stable in August
September 14, 2017
Seasonally-adjusted employment increased by 54,200 jobs in August compared to the previous month, up from the 29,300 new jobs created in July. August’s figure overshot analysts’ expectations of 15,000 new jobs. The rise in employment reflects an increase of 14,100 part-time positions in August (July: 49,100), while the number of full-time positions rose by 40,100 in the same month, contrasting the 19,900 full-time positions that were lost in July.
The labor market participation rate edged up to an over five-year high of 65.2% in August (July: 65.1%), which led the unemployment rate to remain stable at July’s 5.6%.
Author: Christopher Mc Innes, Economist