Australia: Unemployment stable in July for a fourth consecutive month
July 8, 2011
In June, the economy added 23,400 jobs in seasonally-adjusted terms, which contrasted a loss of 500 jobs (previously reported: +7,800) in May and came in above market expectations that an additional 15,000 jobs would be created. The June reading comprised a significant reduction in the number of part-time jobs (-35,600), which was more than offset by the increase in full-time positions (+59,000 jobs). Meanwhile, the number of total job seekers fell by 2,600 persons in June, which contrasted the addition of 11,500 new job seekers recorded in May. Finally, the unemployment rate was unchanged at 4.9% for a fourth consecutive month, matching market expectations.
Author: Armando Ciccarelli, Head of Data Solutions