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As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for July, which registered a 24,600 increase in total employment but a flat headline unemployment rate (still 5.2%) due to a 0.09% increase in labour force participation. However, the underemployment rate rose by 0.2% in seasonally adjusted terms.
In trend terms, the unemployment rate rose 0.04% to 5.26%:
Again, total employment rose by a seasonally adjusted 24,600 to 12,908,200. Full-time jobs rose by 34,500, whereas part-time employment increased by 6,700:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.