July jobs are out from the ABS and it’s a mixed bag:
- Employment increased 27,900 to 12,201,400. Full-time employment decreased 20,300 to 8,342,300 and part-time employment increased 48,200 to 3,859,10
- Unemployment increased 1,100 to 730,600. The number of unemployed persons looking for full-time work decreased 3,800 to 496,400 and the number of unemployed persons only looking for part-time work increased 4,900 to 234,200.
- Unemployment rate decreased by less than 0.1 pts to 5.6%
- Participation rate increased by 0.1 pts to 65.1%.
- Monthly hours worked in all jobs decreased 14.4 million hours (0.8%) to 1,690.4 million hours.
Headline was solid but internals not so good with full time down and hours worked gave back all recent gains. Markets were basically flat.
Much more to come.
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