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

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.

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