ABS delivers one last jobs numberwang before lights out

Advertisement

With today’s Labour Force release:

SEASONALLY ADJUSTED ESTIMATES

  • Employment increased 26,700 to 13,015,100 persons. Full-time employment increased 6,700 to 8,884,600 persons and part-time employment increased 20,000 to 4,130,600 persons.
  • Unemployment decreased 26,400 to 699,100 persons.
  • Unemployment rate decreased 0.2 pts to 5.1%.
  • Participation rate decreased 0.1 pts to 66.0%.
  • Monthly hours worked in all jobs decreased 3.0 million hours to 1,775.4 million hours.

LABOUR UNDERUTILISATION

  • The monthly trend underemployment rate remained steady at 8.6%. The monthly underutilisation rate remained steady at 13.7%.
  • The monthly seasonally adjusted underemployment rate remained steady at 8.6%. The monthly underutilisation rate decreased 0.2 pts to 13.7%.

Absolute numberwang.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.