The latest from the Australian Bureau of Statistics for the Labour Force report, August 2024.
Employment +47.5k
- expected +25.0k, prior +58.2k
Unemployment Rate 4.2%
- expected 4.2%, prior 4.2%
Participation Rate 67.1%
- expected 67.1%, prior 67.1%
Full Time Employment -3.1k
- prior + 60.5k
Hours worked +0.4% m/m and +1.7% y/y.
The headline jobless rate has not disappointed. And the headline employment addition appears very strong indeed, once again. The shine will be subdued somewhat by the loss of full-time employment, all jobs added in the month were part-time (part-time employment rose by 50,600).