The Australian Bureau of Statistics has released its August Labour Force survey and the news is berserk:
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)
- Employment increased 121,000 to 11,703,500. Full-time employment increased 14,300 to 8,094,300 and part-time employment increased 106,700 to 3,609,200.
- Unemployment decreased 33,500 to 755,100. The number of unemployed persons looking for full-time work decreased 24,600 to 541,000 and the number of unemployed persons only looking for part-time work decreased 8,900 to 214,100.
- Unemployment rate decreased 0.3 pts to 6.1%.
- Participation rate increased 0.4 pts to 65.2%.
- Aggregate monthly hours worked increased 0.1 million hours to 1 ,609.5 million hours.
At this point I think it best we revert to trend!
Advertisement
TREND ESTIMATES (MONTHLY CHANGE)
- Employment increased to 11,638,400.
- Unemployment increased to 764,100.
- Unemployment rate increased 0.1 pts to 6.2%.
- Participation rate increased 0.1 pts to 65.0%.
- Aggregate monthly hours worked increased 3.2 million hours (0.2%) to 1,613.6 million hours.
Dollar jumped half a cent which is pretty lousy given the numbers. Skeptical I would say. Stand by for ludicrous post from Mad Adam.
Much more to come…
Advertisement