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Financial News: Australia Jobless Rate Steady At 5.2% In July

Australia Jobless Rate Steady At 5.2% In July

08/14/2019 - 22:15:00 (RTTNews)

(RTTNews) - The jobless rate in Australia came in at a seasonally adjusted 5.2 percent in July, the Australian Bureau of Statistics said on Thursday - unchanged and in line with expectations.

The Australian economy added 41,100 jobs last month, far surpassing expectations for a gain of 14,000 jobs following the increase of 500 jobs in June.

Employment increased 41,100 to 12,908,200 persons. Full-time employment increased 34,500 to 8,847,100 persons and part-time employment increased 6,700 to 4,061,100 persons.

The participation rate was 66.1 percent, exceeding estimates for 66.0 - which would have been unchanged from the previous month.

Unemployment increased 800 to 712,900 persons.

Monthly hours worked in all jobs increased 8.8 million hours to 1,780.1 million hours.

The monthly seasonally adjusted underemployment rate increased 0.2 pts to 8.4 percent. The monthly underutilization rate increased 0.2 pts to 13.6 percent.

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