Via the ABS just now comes Labour Force for August:
AUGUST KEY POINTS
TREND ESTIMATES
- Employment increased by 22,000 to 12,921,100 persons. Full-time employment increased by 7,200 to 8,828,400 persons and part-time employment increased by 14,700 to 4,092,700 persons.
- Unemployment increased by 2,700 to 715,700 persons.
- Unemployment rate increased by less than 0.1 pts to 5.3%.
- Participation rate increased by 0.1 pts to 66.2%.
- Monthly hours worked in all jobs increased by 1.6 million hours to 1,778.5 million hours.
SEASONALLY ADJUSTED ESTIMATES
- Employment increased by 34,700 to 12,926,900 persons. Full-time employment decreased by 15,500 to 8,818,000 persons and part-time employment increased by 50,200 to 4,108,900 persons.
- Unemployment increased by 4,100 to 716,800 persons.
- Unemployment rate increased by less than 0.1 pts to 5.3%.
- Participation rate increased by 0.1 pts to 66.2%.
- Monthly hours worked in all jobs increased by 3.9 million hours to 1,782.6 million hours.
LABOUR UNDERUTILISATION
- The monthly trend underemployment rate remained steady at 8.5%. The monthly underutilisation rate increased by less than 0.1 pts to 13.8%.
- The monthly seasonally adjusted underemployment rate increased by 0.1 pts to 8.6%. The monthly underutilisation rate increased by 0.1 pts to 13.8%.
Jobs beat though the shift away from full time is a worry. But there’s just too many workers flooding in.
And yes, lock in your rate cut next month.
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More to come.
