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12 Jun 2014
Australian jobs: headline disappoints, details not so bad...
FXStreet (Bali) - While the headline of the Australian jobs report came below expectations with an employment change s.a. (May) of -4800 vs +10,000 exp, the numbers were actually quite encouraging, as fulltime employment saw +22,200 jobs being created, while part-time employment came at -27000. The unemployment rate s.a. was unchanged at 5.8% vs 5.9%, with the participation rate slightly lower at 64.6% vs 64.7% exp.
MAY KEY POINTS (official release)
TREND ESTIMATES (MONTHLY CHANGE): Employment increased to 11,573,100.Unemployment decreased to 719,700.Unemployment rate remained steady at 5.9%.Participation rate remained steady at 64.7%.Aggregate monthly hours worked decreased 2.1 million hours (0.1%) to 1,598.6 million hours.
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE): Employment decreased 4,800 to 11,564,600. Full-time employment increased 22,200 to 8,068,300 and part-time employment decreased 27,000 to 3,496,200.Unemployment increased 3,200 to 717,100. The number of unemployed persons looking for full-time work increased 9,000 to 529,700 and the number of unemployed persons only looking for part-time work decreased 5,900 to 187,400.The unemployment rate was unchanged at 5.8%.Participation rate decreased 0.1 pts to 64.6%.Aggregate monthly hours worked increased 26.5 million hours (1.7%) to 1 ,604.5 million hours.
LABOUR UNDERUTILISATION (QUARTERLY CHANGE): Trend estimates: The labour force underutilisation rate remained steady at 13.5%.Seasonally adjusted estimates: The labour force underutilisation rate was 13.5%. The male labour force underutilisation rate remained steady at 11.5%. The female labour force underutilisation rate increased by less than 0.1 pts to 15.9%.
MAY KEY POINTS (official release)
TREND ESTIMATES (MONTHLY CHANGE): Employment increased to 11,573,100.Unemployment decreased to 719,700.Unemployment rate remained steady at 5.9%.Participation rate remained steady at 64.7%.Aggregate monthly hours worked decreased 2.1 million hours (0.1%) to 1,598.6 million hours.
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE): Employment decreased 4,800 to 11,564,600. Full-time employment increased 22,200 to 8,068,300 and part-time employment decreased 27,000 to 3,496,200.Unemployment increased 3,200 to 717,100. The number of unemployed persons looking for full-time work increased 9,000 to 529,700 and the number of unemployed persons only looking for part-time work decreased 5,900 to 187,400.The unemployment rate was unchanged at 5.8%.Participation rate decreased 0.1 pts to 64.6%.Aggregate monthly hours worked increased 26.5 million hours (1.7%) to 1 ,604.5 million hours.
LABOUR UNDERUTILISATION (QUARTERLY CHANGE): Trend estimates: The labour force underutilisation rate remained steady at 13.5%.Seasonally adjusted estimates: The labour force underutilisation rate was 13.5%. The male labour force underutilisation rate remained steady at 11.5%. The female labour force underutilisation rate increased by less than 0.1 pts to 15.9%.