Jobs numbers firm so long as you're part time

The ABS has released July employment numbers and the news is whacky:

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

Employment increased 26,200 to 11,968,600. Full-time employment decreased 45,400 to 8,153,900 and part-time employment increased 71,600 to 3,814,700
Unemployment decreased 5,500 to 725,500.
The number of unemployed persons looking for full-time work decreased 13,300 to 482,400 and the number of unemployed persons only looking for part-time work increased 7,800 to 243,100.
Unemployment rate decreased by 0.1 pts to 5.7%.Participation rate remained steady at 64.9%.
Monthly hours worked in all jobs increased 3.7 million hours to 1,660.9 million hours.

A solid beat to 10k jobs growth expected but the full time jobs are an issue.

I will return with a detailed report shortly.

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.

Jobs numbers firm so long as you’re part time