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As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for January, which registered a 13,500 increase in total employment but a sharp increase in the headline unemployment rate (from 5.1% to 5.3%).
In trend terms, the unemployment rate remained steady at 5.1%:
Again, total employment rose by a seasonally adjusted 13,500 to 12,995,400. Full-time jobs surged by 46,200, whereas part-time employment fell by 32,700:
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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.