The ABS has released May Labour Force and the news is boom, baby, boom (vs 10k expected):
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)
- Employment increased 42,000 to 12,152,600. Full-time employment increased 52,100 to 8,287,400 and part-time employment decreased 10,100 to 3,865,200.
- Unemployment decreased 18,600 to 711,900. The number of unemployed persons looking for full-time work decreased 23,000 to 489,300 and the number of unemployed persons only looking for part-time work increased 4,400 to 222,700.
- Unemployment rate decreased by 0.2 pts to 5.5%.
- Participation rate increased by less than 0.1 pts to 64.9%.
- Monthly hours worked in all jobs increased 31.1 million hours (1.87%) to 1,695.3 million hours.
LABOUR UNDERUTILISATION (QUARTERLY CHANGE)
- Trend estimates: the labour force underemployment rate increased 0.1 pts to 8.8%. The underutilisation rate remained steady at 14.5%.
- Seasonally adjusted estimates: the labour force underemployment rate decreased 0.1 pts to 8.8%. The underutilisation rate decreased 0.4 pts to 14.4%.
Aussie dollar to the moon!
Much more to come.
