Australia adds whopping 44,000 jobs in August, a big beat on expectations

Australia adds whopping 44,000 jobs in August, a big beat on expectations

Australia adds whopping 44,000 jobs in August, a big beat on expectations

Roy Morgan has refuted the Australian Bureau of Statistics unemployment results, asserting "real" unemployment notched 11% in August, nearly twice the announced 5.3%.

Employment growth in August was twice as high as expected, keeping the nation's unemployment rate steady at 5.3 per cent for the second month in a row.

The participation rate ticked up to 65.7 percent, beating forecasts for 65.6 percent and up from 65.5 percent in the previous month.

The rustbelt state of South Australia shed the most positions, down 8,400; unemployment rose the most in the mining hub of Western Australia, to 6.4 per cent from 6 per cent.

August's increase left the total number of employed persons at 12.631 million, a new record high.

Annual jobs growth of 2.5 percent was well ahead of the USA pace of job creation of 1.6 percent.

Unemployment decreased 2,700 to 711,900.

That left the underutilisation rate - a sum of underemployment plus the unemployment rate - down 0.4 percentage at 13.4%.

Australia adds whopping 44,000 jobs in August, a big beat on expectations

Employment increased 44,000 to 12,631,300. "Almost 350,000 net part-time jobs were created over the last three years compared to a net increase of under 20,000 full-time jobs".

Unemployment increased 5,800 to 708,800.

"The ANZ labour market indicator, which incorporates ANZ jobs ads, and business and consumer survey measures, suggest that employment should continue to grow at an annual rate of around 2.5 percent, while the risks to the unemployment rate in the near term remain to the downside", added ANZ.

Participation rate increased by 0.2 pts to 65.7%.

Unemployment rate remained steady at 5.3%.

Monthly hours worked in all jobs increased 0.6 million hours (0.03%) to 1,750.9 million hours.

Significantly, the underemployment rate fell to 8.1 percent from May's 8.5 percent. This leaves the overall labor market underutilization at 13.4 percent.

The data provided only a brief fillip to the Australian dollar as an increase in the official cash rate to 1.75 percent is still seen as a distant prospect.

Roxanne Pallett’s secret Celebrity Big Brother game plan REVEALED
I accept Roxanne's apology and I think that she's suffered enough and I don't want to be a part of that". Ryan also collected his nephew Teddy and baby niece, Elsie Rose, the children of his little brother Adam.

Recommended News

  • Country music star's son-in-law dies in Florida fall

    Country music star's son-in-law dies in Florida fall

    The son-in-law of country music star Alan Jackson and Nashville prosecutor has died in a fall in Florida. At the time, Mattie wrote lovingly about the pair's meeting, period of dating, proposal , and wedding.
    Liverpool receive boost as Tottenham boss reveals duo are out injured

    Liverpool receive boost as Tottenham boss reveals duo are out injured

    That's too complicated; you have to go into the next game and see who you can choose. Adam Lallana , however, is not expected back until the end of the month.
    Seahawks Signing LB Mychal Kendricks Despite Guilty Plea for Insider Trading

    Seahawks Signing LB Mychal Kendricks Despite Guilty Plea for Insider Trading

    The Seahawks don't seem to mind and just want to add talent where needed on their roster, so they're reportedly signing him. Kendricks spent six seasons with Philadelphia before signing with the Browns on a one-year deal in the offseason.
  • Sarri open to bringing Terry 'home to help us'

    Speaking ahead of Saturday's clash with Cardiff, Sarri said he was open to the prospect of Terry returning to the club . Sarri said: 'The last time I spoke with him, about a week ago, he told me that he wants to play for another season.
    Hurricane Florence has ingredients that make experts worry

    Hurricane Florence has ingredients that make experts worry

    Unfortunately, the forecast is for the storm to stall out and drop a ton of rain in the Carolinas. "This one is different". North and SC residents all along the eastern Atlantic coast are evacuating ahead of an intensifying Hurricane Florence .
    Weather Channel uses mixed reality to show the effects of a hurricane

    Weather Channel uses mixed reality to show the effects of a hurricane

    As of 11am local time, Florence was centred about 145 miles south east of Wilmington and its forward movement slowed to 10mph. Florence's winds have dropped from a peak of 140mph to 105mph, reducing the hurricane from a Category 4 to a Category 2.
  • Hurricane Florence: Over 188,000 without power as monster storm batters Carolinas

    Hurricane Florence: Over 188,000 without power as monster storm batters Carolinas

    More than a million people along the coastlines of North Carolina, South Carolina and Virginia have been ordered to evacuate. US carriers were also waiting to see what impact Florence could have on airports near Washington and in northern Virginia.
    Saudi, Iranian envoys condole Kulsoom's death with Nawaz

    Saudi, Iranian envoys condole Kulsoom's death with Nawaz

    After Kulsoom Nawaz's body is brought to Pakistan, her funeral prayers will be held on Friday in Raiwind. Heavy contingent of police has been deployed at the Jati Umra to provide security to the Sharif family.

    Coastal residents wait, watch as Florence's fury begins

    More than a million people along the coastlines of North Carolina , South Carolina and Virginia have been ordered to evacuate. American Airlines said it had canceled more than 800 flights from Wednesday through Sunday because of the storm.
  • Ariana Grande Shares Touching Tribute To Mac Miller

    Ariana Grande Shares Touching Tribute To Mac Miller

    Back in May, Miller and Grande's romantic relationship dissolved after two years. "Malcolm my friend, you will be dearly missed". The 'Self Care'singer was found at his home in San Fernando Valley, California, on 7 September.
    Paul Manafort to Plead Guilty to 2 Felonies & Cooperate with Prosecutors

    Paul Manafort to Plead Guilty to 2 Felonies & Cooperate with Prosecutors

    At the end of the hour-long hearing, Manafort responded to a statement of offense with "I plead guilty ". Behind bars in the Alexandria, Va., detention center, Manafort's dark hair has sprouted patches of gray.
    Manchester City announce £500m club-record revenues close on United

    Manchester City announce £500m club-record revenues close on United

    The annual report said last season's runaway Premier League champions had enjoyed revenues of £500.5 million - a 44 per cent increase in five years.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.