FXStreet (Bali) – Australia’s employment figures came much better-than-expected – around 15 expected -, tripling estimates, with the total employment change at 42k, 27.3k being part-time jobs and 14.7k full-time positions. The jobless rate was also reduced to 6% vs 6.1% prior (revised from 6.2%), while the participation rate was unchanged at 64.7% after a revision last month from 64.8% to 64.7%.
MAY KEY POINTS
TREND ESTIMATES (MONTHLY CHANGE): Employment increased to 11,747,200. Unemployment decreased to 756,300. Unemployment rate decreased less than 0.1 pts to 6.0%. Participation rate remained steady at 64.8%. Aggregate monthly hours worked increased 2.5 million hours to 1,634.1 million hours from a revised April 2015 estimate.
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE): Employment increased 42,000 to 11,759,600. Full-time employment increased 14,700 to 8,128,600 and part-time employment increased 27,300 to 3,630,900. Unemployment decreased 22,000 to 745,200. The number of unemployed persons looking for full-time work decreased 23,500 to 514,500 and the number of unemployed persons only looking for part-time work increased 1,500 to 230,800. Unemployment rate decreased 0.2 pts to 6.0%, based on unrounded estimates. Participation rate remained steady at 64.7% from a revised April 2015 estimate. Aggregate monthly hours worked increased 2.2 million hours (0.1%) to 1,631.8 million hours from a revised April 2015 estimate.
LABOUR UNDERUTILISATION (QUARTERLY CHANGE): Trend estimates: The labour force underutilisation rate decreased 0.1 pts to 14.7%. Seasonally adjusted estimates: The labour force underutilisation rate decreased 0.4 pts to 14.5%. The male labour force underutilisation rate decreased 0.4 pts to 12.5%. The female labour force underutilisation rate decreased 0.4 pts to 16.7%.
(Market News Provided by FXstreet)