Australia’s employment report for June has just been released, and it’s beaten expectations.
The ABS reported the number of people employed increased by 7,300 to 11,768,600 in June 2015 (seasonally adjusted). The increase in employment was driven by increases in full-time employment for both females (up 17,500) and males (up 7,000). The increase in full-time employment was partially offset by decreases in part-time employment for both females (down 10,600) and males (down 6,600).
The seasonally adjusted number of people unemployed increased by 12,800 to 756,100 in June 2015. This was driven by unemployed people who looked for full-time work, which increased by 27,200 to 541,200.
Despite the increase unemployment rose to 6.0% from a downwardly-revised 5.9% rate of May. Markets had been expecting an increase of 6.1%. Partially explaining the increase in the unemployment, labour market participation rose by 0.1% to 64.8%.
From a states and territories perspective New South Wales recorded the strongest level of employment growth at 11,300. South Australia and Victoria recorded the largest drop in employment at 5,700 and 5,500 respectively.
The table below shows the unemployment rates across the country. As usual they are incredibly volatile, creating further doubts about the survey’s reliability. Of the notable movements unemployment in Western Australia leapt 0.7% to 5.8% while that for South Australia soared to 8.2% from 7.6%. Tasmania, at 6.5%, recorded a drop in unemployment of 0.5%.