Aussie jobs beat again

The ABS has released August Labour Force and the news is good as the Botox Boom delivers for while:

TREND ESTIMATES (MONTHLY CHANGE) 

  • Employment increased 27,100 to 12,249,500.
  • Unemployment decreased 2,200 to 723,200.
  • Unemployment rate remained steady at 5.6%.
  • Participation rate increased by 0.1 pts to 65.2%.
  • Monthly hours worked in all jobs increased 3.9 million hours (0.2%) to 1,708.6 million hours.

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE) 

  • Employment increased 54,200 to 12,269,000. Full-time employment increased 40,100 to 8,392,300 and part-time employment increased 14,100 to 3,876,700.
  • Unemployment decreased 1,100 to 727,500. The number of unemployed persons looking for full-time work increased 6,400 to 501,600 and the number of unemployed persons only looking for part-time work decreased 7,500 to 225,900.
  • Unemployment rate remained steady at 5.6%
  • Participation rate increased by 0.2 pts to 65.3%.
  • Monthly hours worked in all jobs increased 6.1 million hours (0.4%) to 1,705.4 million hours.

Trend is the only reliable measure, moving solidly along.

Much more to come.

Comments

  1. reusachtigeMEMBER

    Good to see more evidence of the ongoing massive boom in Australia! We can thank our rapidly growing population for this, and for the improvement in vibrancy within our once-boring cities like Sydney and Melbourne!!

  2. From ABC.
    “The Bureau of Statistics estimated that 40,100 full-time positions were added to the economy last month, with a further 14,100 part-time jobs also created”.

    This is utter Bullshit. There is no way on earth that we are creating that many F/T jobs. Compared to historical experience this must be a 3 Sigma move. I know so many people under employed or flat out looking for any kind of work.

    Although there are a heap of massage parlours open now, there seem to be a bout 4 at Southland in Melbourne and one near my kids school with the old neon sign barley flashing in the window.
    Pretty soon the ABS will have a new definition for employed… “More then two hand jobs in a week either paid or unpaid counts as being in F/T work.”

      • Well this is a survey based stat, take a survey among enough of your friends, you’ll get a similar picture maybe?

      • No, I will not because my friends are not representative of the population, in location, age, income level or any other relevant characteristic.

        This is true of everyone. Nobody ‘knows’ a statistically valid cross section of the population.

    • The current underlying measurement process and definitions may be useless at showing true employment/unemployment etc but I have to concede the trend should indicate improving/declining conditions. The Roy Morgan view of unemployment about the same as last year is more consistent with my perception at the moment but I am not in the Melbourne or Sydney suckholes.
      That said, it would be interesting to see how quickly the ABS sample rotation groups get adjusted for population centre changes. Based on the sheer volumes rocking into Sydney and Melbourne every month, they would have to ensure their sampled households increases in those areas.

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