Australian August unemployment rate 4.2% (vs. 4.2% expected)

The latest from the Australian Bureau of Statistics for the Labour Force report, August 2024.

Employment +47.5k

• expected +25.0k, prior +58.2k

Unemployment Rate 4.2%

• expected 4.2%, prior 4.2%

Participation Rate 67.1%

• expected 67.1%, prior 67.1%

Full Time Employment -3.1k

• prior + 60.5k

Hours worked +0.4% m/m and +1.7% y/y.

The headline jobless rate has not disappointed. And the headline employment addition appears very strong indeed, once again. The shine will be subdued somewhat by the loss of full-time employment, all jobs added in the month were part-time (part-time employment rose by 50,600).

This article was written by Eamonn Sheridan at www.forexlive.com.