Australian June employment report: Solid reading, full time jobs soar

Australian June employment report came solid, with the employment change at 14k vs 15k exp and 42k prior, with full time job creation at 62k vs 52k last, while part time jobs came at -48k vs -10.1k last. The participation rate stood at 65%, while the unemployment rate was 5.6%vs 5.6% exp and 5.5% last

JUNE KEY POINTS

TREND ESTIMATES (MONTHLY CHANGE) 

• Employment increased 26,400 to 12,160,100.
• Unemployment decreased 3,700 to 726,800.
• Unemployment rate decreased less than 0.1 pts to 5.6%.
• Participation rate remained steady at 64.9%.
• Monthly hours worked in all jobs increased 6.2 million hours (0.4%) to 1,691.5 million hours.

SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE) 

• Employment increased 14,000 to 12,166,900. Full-time employment increased 62,000 to 8,356,000 and part-time employment decreased 48,000 to 3,810,800.
• Unemployment increased 13,100 to 728,100. The number of unemployed persons looking for full-time work increased 9,200 to 500,600 and the number of unemployed persons only looking for part-time work increased 3,900 to 227,500.
• Unemployment rate remained steady at 5.6%, following a revised May 2017 estimate.
• Participation rate increased by 0.1 pts to 65%.
• Monthly hours worked in all jobs increased 8.9 million hours (0.5%) to 1,703.5 million hours.