The US added 559,000 payrolls, missing the estimate for a 674,000-job gain. The unemployment rate fell to 5.8% from 6.1%, beating the 5.9% estimate.
US stocks pared earlier losses but closed lower on Thursday as investors mulled a new report that Biden may be open to a lower tax hike.
The ADP employment report and weekly jobless claims suggest the labor market fared better in May, but there's plenty of room for a massive upset.
All major US indices were down as investors mulled how strong jobless data will impact Fed policy and inflation. AMC slipped after announcing a stock sale.
Australian unemployment rose to 7% in October despite 178,000 new jobs being created, due to more people looking for work. The latest ABS data rates as the biggest improvement in the labour market since the pandemic began, with more than half of all new positions being full-time ones. Victoria’s reopening […]
Queensland has joined South Australia, Tasmania, Western Australia and the Northern Territory in having more advertised positions now than before the pandemic. New South Wales, ACT and Victoria are still behind however, in part due to their reliance on a professional sector recovery that has yet to appear. Advertised construction, […]
The latest payroll figures show Australia’s labour market is mounting a fragile recovery. While hours worked continues to lift, the number of jobs grew just 0.1% over the fortnight to mid-March. Construction and agriculture slipped backwards, while the arts and recreation, and accommodation and food services sectors remain well behind […]
The latest payroll data from the ABS on Tuesday has given the first indication of how the labour market is faring in Australia amid the coronavirus pandemic. It shows 6% of all jobs were eliminated between mid-March and early April, meaning as many as 780,000 Australians have been laid off. […]
A second set of tax cuts could be implemented as soon as next year, as the Australian economy looks worse for wear. On the same day that the jobs market suffered its worst fall in three years, Treasurer Frydenberg indicated he was considering tax changes. While unconfirmed, economists have been […]
Having managed to bat on for much of 2019, the Australian labour market is starting to look exposed, after 19,000 jobs were lost in the month of October, according to the latest data. It saw the unemployment rate tick up to 5.3% and marked the first net negative month of […]
The Australian economy added 44,000 jobs in August in seasonally adjusted terms, well above forecasts of an 18,000 gain. Overall participation levels edged higher, which left the unemployment rate steady at 5.3%. Quarterly data on the underemployment – people employed who would like to work more hours – fell by […]
Australia’s jobs report for July will be released by the ABS at 11:30am AEST. Jobs data remains one of the most important releases on the economic calendar, and has become an increasingly important barometer for Australia’s economic outlook. Today’s report follows quarterly wage data released yesterday. While there was a […]
*Update 2.20pm: The ABS has provided a response to this article which has been added below. There is an astonishing qualifier in today’s employment data from the Australian Bureau of Statistics. In the commentary, the ABS says: The incoming rotation group in Queensland for September 2016 was considerably different to […]
A record number of Australians in work.
Not that bad.
More bad news.