Australia’s highly-anticipated employment report for July will be released this morning.
Here’s the state of play.
- In June the total number of employed rose to 11.7686 million, the highest level on record. Full-time employment jumped to 8.1562 million, also the highest level on record.
- Aside from the 2.03% increase recorded in June, annual employment growth is running at the fastest pace since mid-2011. Part-time employment rose by 2.58%, shading a 1.66% increase in full-time employment.
- In actual terms, employment jumped by 224,449 in the past 12 months. Full-time rose by 133,522, part-time by 90,927. Over the same period unemployment increased by 10,451. The labour market expanded by 234,900.
- In June employment increased by 7,300. Full-time employment surged by 24,500, offsetting a 17,200 decline in part-time employment.
- New South Wales recorded the largest increase in employment at 11,300. South Australia reported the largest decline at 5,700.
- Aggregate monthly hours worked increased 5.1 million hours, or 0.3%, to 1.6369 billion hours.
- Despite the increase in employment, the national unemployment rate rose to 6.0% from 5.9% due to participation ticking up 0.1% to 64.8%.
- With the size of the labour market increasing faster than the pace of job creation, the number of unemployed rose by 12,800 to 756,100.
- Although unemployment increased by 1.4% over the past year, it is growing at the slowest level since August 2012.
- Western Australia and New South Wales have the lowest unemployment rates in Australia – 5.8% – while South Australia, at 8.2%, has the highest.
- In July markets are looking for employment to increase by 10,000. With participation expected to hold steady at 64.8%, unemployment is tipped to increase 0.1% to 6.1%.
- Employment has increased for the past two months. It has not risen for three consecutive months since March 2014.
What will the notoriously volatile ABS report reveal? That will be answered at 11.30am AEST.
Business Insider will have full coverage as soon as the data drops.