The ABS is out with August Labour Force and the news is weakness:
- Employment decreased 3,900 to 11,963,700. Full-time employment increased 11,500 to 8,166,100 and part-time employment decreased 15,400 to 3,797,700.
- Unemployment decreased 10,500 to 713,300. The number of unemployed persons looking for full-time work increased 14,900 to 496,900 and the number of unemployed persons only looking for part-time work decreased 25,400 to 216,400.
- Unemployment rate decreased 0.1 pts to 5.6%.
- Participation rate decreased 0.2 pts to 64.7%.
- Monthly hours worked in all jobs decreased 3.9 million hours to 1,656.0 million hours.
Headline was saved by the participation rate fall but jobs missed the 15k expected by a wide margin. Aussie fell 20 pips.
