Jobs and unemployment fall

Thursday, 6 September 2012

Yes, that’s right, jobs and unemployment both fell. In August, full time jobs were up 600 but part time down 9,300, net down 8,800. The unemployment rate fell to 5.1% because the participation rate also fell 0.2% to 65%, which is the lowest since 2006.

Revisions to last month were down, from 14k jobs to 11.7k, most were full time lost.

Dollar was up 10 pips, just noise.

Much more to come.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.