The ABS has released Labour Force for February and the news is more weakness:
- Employment decreased 6,400 to 11,998,800. Full-time employment increased 27,100 to 8,158,900 and part-time employment decreased 33,500 to 3,840,000.
- Unemployment increased 26,000 to 748,100. The number of unemployed persons looking for full-time work increased 10,800 to 523,800 and the number of unemployed persons only looking for part-time work increased 15,100 to 224,300.
- Unemployment rate increased 0.2 pts to 5.9%.
- Participation rate remained steady at 64.6%.
- Monthly hours worked in all jobs decreased 20.5 million hours to 1,661.9 million hours.
- Trend estimates: the labour force underutilisation rate increased 0.1 pts to 14.4%.
- Seasonally adjusted estimates: the labour force underutilisation rate increased 0.4 pts to 14.6%. The male labour force underutilisation rate increased 0.3 pts to 12.6%. The female labour force underutilisation rate increased 0.6 pts to 16.8%.
Not much good news there. More to come.
