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ABS June Labour Force data is out and shows ongoing softness rather than weakness:
- Employment increased 10,300 (0.1%) to 11,668,500. Full-time employment decreased 4,400 to 8,144,500 and part-time employment increased 14,800 to 3,524,100.
- Unemployment increased 23,700 (3.5%) to 709,300. The number of persons looking for full-time work increased 16,900 to 525,900 and the number of persons looking for part-time work increased 6,800 to 183,400.
- The unemployment rate increased 0.2 pts to 5.7%.
- The participation rate increased 0.1 pts to 65.3%.
- Aggregate monthly hours worked increased 8.8 million hours to 1,638.6 million hours.
Full report coming from UE…
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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.
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