The Australian Bureau of Statistics has released its July jobs numberwang and the wheel has landed on boom and bust:
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)
- Employment increased 38,500 to 11,810,700. Full-time employment increased 12,400 to 8,170,400 and part-time employment increased 26,100 to 3,640,300.
- Unemployment increased 40,100 to 800,700. The number of unemployed persons looking for full-time work increased 23,600 to 568,100 and the number of unemployed persons only looking for part-time work increased 16,500 to 232,600.
- Unemployment rate increased 0.3 pts to 6.3% from a revised June 2015 estimate.
- Participation rate increased 0.3 pts to 65.1%.
- Monthly hours worked in all jobs decreased 3.4 million hours (0.2%) to 1,633.2 million hours.
The number of jobs was well ahead of consensus of 10k, though mostly part time but the unemployment rate was well ahead as well at 6.3% versus 6.1% expected. Dollar rose 25 pips then calmed down. Much more to come.
