Australian Economy

Jobs luke warm

David Llewellyn-Smith
Thursday 16 February 2017
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The ABS has released January Labour Force and the news is luke warm as part time still dominates:

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)

  • Employment increased 13,500 to 11,998,200. Full-time employment decreased 44,800 to 8,125,700 and part-time employment increased 58,300 to 3,872,500.
  • Unemployment decreased 19,300 to 720,200. The number of unemployed persons looking for full-time work decreased 16,000 to 511,000 and the number of unemployed persons only looking for part-time work decreased 3,300 to 209,200.
  • Unemployment rate decreased 0.1 pts to 5.7%.
  • Participation rate decreased 0.1 pts to 64.6%.
  • Monthly hours worked in all jobs increased 10.2 million hours to 1,682.7 million hours.

Very close to consensus. More to come.

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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.